Greystone Housing Impact Investors (GHI) 10-K23 Feb 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Cover [Abstract]
Entity Registrant Name	GREYSTONE HOUSING IMPACT INVESTORS LP
Entity Central Index Key	0001059142
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	GHI
Title of each class	Beneficial Unit Certificates representingassignments of limited partnership interests in Greystone Housing Impact Investors LP
Name of each exchange on which registered	NYSE
Entity Common Stock, Units Outstanding	0
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-41564
Entity Tax Identification Number	47-0810385
Entity Address, Address Line One	14301 FNB Parkway
Entity Address, Address Line Two	Suite 211
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	952-1235
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity Public Float		$ 404,330,009
Documents Incorporated by Reference	None
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Chicago, Illinois
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 51,188,416	$ 68,285,501
Restricted cash	41,448,840	83,646,969
Interest receivable, net	11,628,173	9,234,412
Mortgage revenue bonds held in trust, at fair value (Note 6)	763,208,945	750,934,848
Mortgage revenue bonds, at fair value (Note 6)	36,199,059	42,574,996
Governmental issuer loans (Note 7)	300,230,435	184,767,450
Real estate assets, net (Note 8)	36,550,478	59,707,632
Investments in unconsolidated entities (Note 9)	115,790,841	107,793,522
Property loans, net (Note 10)	175,109,711	68,101,268
Other assets (Note 12)	35,774,667	10,862,885
Total Assets	1,567,129,565	1,385,909,483
Liabilities:
Accounts payable, accrued expenses and other liabilities (Note 13)	21,733,506	13,664,212
Distribution payable	10,899,677	12,757,459
Secured lines of credit (Note 14)	55,500,000	45,714,000
Debt financing, net (Note 15)	1,058,903,952	820,078,714
Mortgages payable and other secured financing, net (Note 16)	1,690,000	26,824,543
Total Liabilities	1,148,727,135	919,038,928
Commitments and Contingencies (Note 18)
Redeemable Series A Preferred Units, $94.5 million redemption value, 9.5 million issued and outstanding, net (Note 19)	94,446,913	94,458,528
Partnersʼ Capital:
General Partner (Note 1)	285,571	765,550
Beneficial Unit Certificates ("BUCs," Note 1)	323,669,946	371,646,477
Total Partnersʼ Capital	323,955,517	372,412,027
Total Liabilities and Partnersʼ Capital	$ 1,567,129,565	$ 1,385,909,483

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Redeemable preferred units redemption value	$ 94.5	$ 94.5
Redeemable preferred units, issued	9.5	9.5
Redeemable preferred units, outstanding	9.5	9.5

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)		12 Months Ended
Consolidated Statements of Operations - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Revenues:
Investment income		$ 61,342,533	$ 57,736,968
Property revenues		7,855,506	7,208,661
Contingent interest income			1,848,825
Other interest income		11,875,538	1,657,840
Total revenues		81,073,577	68,452,294
Expenses:
Real estate operating (exclusive of items shown below)		4,738,160	3,992,293
Provision for credit loss (Note 6)			1,856,893
Provision for loan loss (Note 10)			444,302
Depreciation and amortization		2,717,415	2,732,922
Interest expense		30,464,451	21,943,885
General and administrative		17,447,864	14,824,668
Total expenses		55,367,890	45,794,963
Other Income:
Loss on sale of real estate asset			(14,800)
Gain on sale of investments in unconsolidated entities		39,805,285	15,520,749
Income before income taxes		65,510,972	38,163,280
Income tax expense (benefit)		(51,194)	63,792
Net income		65,562,166	38,099,488
Redeemable Preferred Unit distributions and accretion		(2,866,625)	(2,871,051)
Net income available to Partners		62,695,541	35,228,437
Net income (loss) available to Partners allocated to:
General Partner		3,471,267	2,830,481
Net income available to Partners and noncontrolling interest		$ 62,695,541	$ 35,228,437
BUC holders' interest in net income per BUC, basic	[1]	$ 2.62	$ 1.53
BUC holders' interest in net income per BUC, diluted	[1]	$ 2.62	$ 1.53
Weighted average number of BUCs outstanding, basic	[1]	22,486,046	21,092,010
Weighted average number of BUCs outstanding, diluted	[1]	22,486,046	21,092,010
Beneficial Unit Certificate Holders [Member]
Net income (loss) available to Partners allocated to:
Limited Partners		$ 58,945,102	$ 32,258,667
Restricted Unitholders [Member]
Net income (loss) available to Partners allocated to:
Limited Partners		$ 279,172	$ 139,289

[1] On April 1, 2022, the Partnership effected a one-for-three reverse unit split of its outstanding BUCs (the “Reverse Unit Split”). On October 31, 2022, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.01044 BUCs for each BUC outstanding as of September 30, 2022 (the “Third Quarter BUCs Distribution”). On January 31, 2023, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.0105 BUCs for each BUC outstanding as of December 30, 2022 (the “Fourth Quarter BUCs Distribution”, collectively with the Third Quarter BUCs Distribution, the “BUCs Distributions”). The amounts indicated in the Consolidated Statements of Operations have been adjusted to reflect both the Reverse Unit Split and the BUCs Distributions on a retroactive basis.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - (Parenthetical)	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Income Statement [Abstract]
Beneficial unit certificates distribution ratio	0.0105	0.01044

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
Consolidated Statements of Comprehensive Income - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 65,562,166	$ 38,099,488
Unrealized loss on securities	(69,426,546)	(19,086,272)
Unrealized gain (loss) on bond purchase commitments	(865,475)	532,525
Comprehensive income (loss)	$ (4,729,855)	$ 19,545,741

Consolidated Statements of Part

Consolidated Statements of Partners' Capital - USD ($)	Total	Tier 2 [Member]	Tier 3 [Member]	General Partner [Member]	General Partner [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member]	BUCs - Restricted and Unrestricted [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member] Tier 3 [Member]	Number of BUCs - Restricted and Unrestricted [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2020	$ 359,772,042			$ 934,892		$ 358,837,150				$ 132,594,007
Partners' Capital Account, Units at Dec. 31, 2020									20,700,399
Distributions paid or accrued:
Regular distribution	(17,782,023)			(177,820)		(17,604,203)
Distribution of income (Note 3)		$ (10,596,968)	$ (6,507,605)		$ (2,649,242)		$ (7,947,726)	$ (6,507,605)
Net income allocable to Partners	35,228,437			2,830,481		32,397,956
Sale of BUCs, net of issuance costs, Value	31,239,495					31,239,495
Sale of BUCs, net of issuance costs, Units									1,859,160
Repurchase of BUCs, Value	(1,363,736)					(1,363,736)
Repurchase of BUCs, Units									(75,713)
Restricted units awarded									88,775
Restricted unit compensation expense	1,277,694			12,777		1,264,917
BUCs surrendered to pay tax withholding on vested restricted units	(301,562)					(301,562)
BUCs surrendered to pay tax withholding on vested restricted units, Units									(15,021)
Unrealized loss on securities	(19,086,272)			(190,863)		(18,895,409)				(19,086,272)
Unrealized gain on bond purchase commitments	532,525			5,325		527,200				532,525
Balance at Dec. 31, 2021	372,412,027			765,550		371,646,477				114,040,260
Partners' Capital Account, Units at Dec. 31, 2021									22,557,600
Distributions paid or accrued:
Regular distribution	(2,127,734)			(21,277)		(2,106,457)
Distribution of income (Note 3)		$ (12,969,459)	$ (26,835,826)		$ (3,242,365)		$ (9,727,094)	$ (26,835,826)
Cash paid in lieu of fractional BUCs	(2,506)					(2,506)
Net income allocable to Partners	62,695,541			3,471,267		59,224,274
Rounding of BUCs upon Reverse Unit Split									1,160
Restricted units awarded									96,321
Restricted units forfeited									(5,437)
Restricted unit compensation expense	1,531,622			15,316		1,516,306
BUCs surrendered to pay tax withholding on vested restricted units	(456,127)					(456,127)
BUCs surrendered to pay tax withholding on vested restricted units, Units									(23,281)
Unrealized loss on securities	(69,426,546)			(694,265)		(68,732,281)				(69,426,546)
Unrealized gain on bond purchase commitments	(865,475)			(8,655)		(856,820)				(865,475)
Balance at Dec. 31, 2022	$ 323,955,517			$ 285,571		$ 323,669,946				$ 43,748,239
Partners' Capital Account, Units at Dec. 31, 2022									22,626,363

Consolidated Statements of Pa_2

Consolidated Statements of Partners' Capital (Parenthetical)	Jan. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Dec. 19, 2022 $ / shares	Oct. 31, 2022	Sep. 30, 2022 $ / shares	Sep. 14, 2022 $ / shares	Dec. 31, 2021 $ / shares
Regular distributions paid or accrued		$ 1.709					$ 1.469
Beneficial Unit Certificates [Member]
Regular distributions paid or accrued		$ 0.40	$ 0.20		$ 0.20	$ 0.20
BUCs distribution paid at ratio				0.01044
Beneficial Unit Certificates [Member] \| Subsequent Event [Member]
Regular distributions paid or accrued	$ 0.20
BUCs distribution paid at ratio	0.0105

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 65,562,166	$ 38,099,488
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	2,717,415	2,732,922
Amortization of deferred financing costs	2,537,186	1,209,837
Gain on sale of investments in unconsolidated entities	(39,805,285)	(15,520,749)
Contingent interest realized on investing activities		(1,848,825)
Provision for credit loss		1,856,893
Provision for loan loss		444,302
Recovery of prior credit loss	(57,124)
Loss on sale of real estate assets, net		14,800
Gain on derivative financial instruments, net of cash paid	(7,187,020)	(21,915)
Restricted unit compensation expense	1,531,622	1,277,694
Bond premium, discount and origination fee amortization	(1,880,983)	(137,520)
Debt premium amortization	(40,591)	(40,565)
Deferred income tax (benefit) & income tax payable/receivable	(120,923)	(166,206)
Change in preferred return receivable from unconsolidated entities, net	(2,404,641)	4,657,928
Accrued interest added to property loan principal	(635,226)
Changes in operating assets and liabilities
Increase in interest receivable	(2,316,182)	(1,099,915)
Decrease in other assets	(356,241)	(349,949)
Increase in accounts payable, accrued expenses and other liabilities	3,583,565	2,831,931
Net cash provided by operating activities	21,127,738	33,940,151
Cash flows from investing activities:
Capital expenditures	(1,808,416)	(156,765)
Proceeds from sale of land held for development		110,000
Advances on mortgage revenue bonds	(182,726,187)	(69,672,500)
Advances on governmental issuer loans	(13,669,857)	(2,000,000)
Advances on governmental issuer loans	(115,462,985)	(119,903,793)
Advances on taxable governmental issuer loans	(7,000,000)	(1,000,000)
Advances on property loans	(131,118,766)	(55,738,536)
Contributions to unconsolidated entities	(34,036,247)	(37,780,645)
Proceeds from sale of investment in an unconsolidated entity	66,786,694	45,281,550
Return of investments in unconsolidated entities	1,462,160	1,476,350
Principal payments received on mortgage revenue bonds and contingent interest	109,034,876	51,710,640
Principal payments received on taxable mortgage revenue bonds	10,583	9,675
Principal payments received on property loans	30,332,123	191,264
Costs incurred on sale of The 50/50 MF Property	(403,625)
Net cash used in investing activities	(278,599,647)	(187,472,760)
Cash flows from financing activities:
Distributions paid	(46,628,307)	(28,650,420)
Repurchase of BUCs		(1,363,736)
Proceeds from the sale of BUCs		33,321,250
Payment of offering costs related to the sale of BUCs		(2,081,755)
Payment of tax withholding related to restricted unit awards	(456,127)	(301,562)
Proceeds from debt financing	643,402,000	181,394,000
Principal payments on debt financing	(404,666,949)	(34,955,800)
Principal payments on mortgages payable	(906,481)	(850,674)
Principal borrowing on unsecured lines of credit		15,172,445
Principal payments on unsecured lines of credit		(22,647,446)
Principal borrowing on secured lines of credit	137,742,000	70,714,000
Principal payments on secured lines of credit	(127,956,000)	(25,000,000)
Increase (decrease) in security deposit liability related to restricted cash	(148,851)	89,854
Proceeds upon exchange of Redeemable Preferred Units	20,000,000
Payment upon exchange of Redeemable Preferred Units	(20,000,000)
Debt financing and other deferred costs paid	(2,204,590)	(2,365,663)
Net cash provided by financing activities	198,176,695	182,474,493
Net increase (decrease) in cash, cash equivalents and restricted cash	(59,295,214)	28,941,884
Cash, cash equivalents and restricted cash at beginning of period	151,932,470	122,990,586
Cash, cash equivalents and restricted cash at end of period	92,637,256	151,932,470
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	32,262,815	19,961,390
Cash paid during the period for income taxes	69,729	229,998
Supplemental disclosure of noncash investing and financing activities:
Net real estate, operating assets and operating liabilities of the 50/50 mf property sold for noncash consideration	22,435,371
Property loan received as consideration for sale of The 50/50 MF Property	4,803,620
Mortgages payable assumed by the buyer of The 50/50 MF Property	24,228,373
Deferred gain liability recorded upon sale of The 50/50 MF Property	6,596,622
Distributions declared but not paid for BUCs and General Partner	10,899,677	12,757,459
Exchange of Redeemable Preferred Units	10,000,000
Distributions declared but not paid for Preferred Units	708,750	708,750
Investment in previously unconsolidated entity consolidated as land		970,615
Debt from previously unconsolidated entity consolidated as mortgage payable		1,690,000
Capital expenditures financed through accounts payable	565,614	686,287
Deferred financing costs financed through accounts payable	$ 117,400	$ 131,678

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 51,188,416	$ 68,285,501
Restricted cash	41,448,840	83,646,969
Total cash, cash equivalents and restricted cash	$ 92,637,256	$ 151,932,470

Basis of Presentation

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2022
Basis Of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Effective December 5, 2022, America First Multifamily Investors, L.P. amended its Certificate of Limited Partnership with the Secretary of State of the State of Delaware to change its name to Greystone Housing Impact Investors LP (the “Partnership”), a Delaware limited partnership. The Partnership was formed on April 2, 1998, under the Delaware Revised Uniform Limited Partnership Act primarily for the purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds (“MRBs”) that have been issued to provide construction and/or permanent financing for affordable multifamily and student housing residential properties and commercial properties. The Partnership has also invested in governmental issuer loans (“GILs”), which are similar to MRBs, to provide construction financing for affordable multifamily properties. The Partnership expects and believes the interest earned on these MRBs and GILs is excludable from gross income for federal income tax purposes. The Partnership may also invest in other types of securities, including taxable MRBs and taxable GILs secured by real estate and may make property loans to multifamily residential properties which may or may not be financed by MRBs or GILs held by the Partnership and may or may not be secured by real estate. The Partnership also makes noncontrolling equity investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily properties. The Partnership is entitled to distributions if, and when, cash is available for distribution either through operations, a refinance or a sale of the property. In addition, the Partnership may acquire and hold interests in multifamily, student and senior citizen residential properties (“MF Properties”) until the “highest and best use” can be determined by management. The Partnership has issued Beneficial Unit Certificates (“BUCs”) representing assigned limited partnership interests to investors (“BUC holders”). The Partnership has designated three series of non-cumulative, non-voting, non-convertible preferred units (collectively, the “Preferred Units”) that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The outstanding Series A Preferred Units and Series A-1 Preferred Units are redeemable in the future (Note 19). The Partnership had not yet issued Series B Preferred Units as of December 31, 2022. The holders of the BUCs and Preferred Units are referred to herein collectively as “Unitholders.” On December 5, 2022, America First Capital Associates Limited Partnership Two (the “General Partner” or “AFCA 2”), in its capacity as the general partner of the Partnership, and Greystone ILP, Inc. (the “Initial Limited Partner”), in its capacity as the initial limited partner of the Partnership, entered into the Greystone Housing Impact Investors LP Second Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), which amended and restated the America First Multifamily Investors, L.P. First Amended and Restated Agreement of Limited Partnership dated September 15, 2015, as further amended. The Partnership Agreement was approved by the Board of Managers of Greystone AF Manager LLC (“Greystone Manager”), which is the general partner of the General Partner of the Partnership, and the amendments made pursuant to the Partnership Agreement did not require the approval of the holders of the Partnership’s BUCs. Mortgage investments, as defined in the Partnership Agreement, consist of MRBs, taxable MRBs, GILs, taxable GILs and property loans. The Partnership Agreement authorizes the Partnership to make investments in tax-exempt securities other than mortgage investments provided that the tax-exempt investments are rated in one of the four highest rating categories by a national securities rating agency. The Partnership Agreement also allows the Partnership to invest in other securities whose interest may be taxable for federal income tax purposes. Total tax-exempt investments and other investments cannot exceed 25 % of the Partnership's total assets at the time of acquisition as required under the Partnership Agreement. Tax-exempt investments and other investments primarily consist of real estate assets and investments in unconsolidated entities. In addition, the amount of other investments is limited based on the conditions to the exemption from registration under the Investment Company Act of 1940. AFCA 2 is the sole general partner of the Partnership. Greystone Manager, the general partner of AFCA 2, an affiliate of Greystone & Co. II LLC (collectively with its affiliates, “Greystone”). All disclosures of the number of rental units for properties related to MRBs, GILs, property loans and MF Properties are unaudited.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Consolidation The “Partnership,” as used herein, includes Greystone Housing Impact Investors LP, its consolidated subsidiaries and consolidated variable interest entities (Note 5). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 Tax-Exempt Bond Securitization (“TEBS”) Financing (“M24 TEBS Financing”) with the Federal Home Loan Mortgage Corporation (“Freddie Mac”); • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M31 TEBS Financing” with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership created to hold MRBs to facilitate the “M33 TEBS Financing” with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership created to hold MRBs to facilitate the “M45 TEBS Financing” with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which has issued secured notes (“the Secured Notes”) to Mizuho Capital Markets LLC (“Mizuho”); • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Freestone Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • One wholly owned corporation (“the Greens Hold Co”), which owned 100 % of The 50/50 MF Property, a real estate asset, and certain property loans; and • Lindo Paseo LLC, a wholly owned limited liability company, which owns 100 % of the Suites on Paseo MF Property. The Partnership also consolidates variable interest entities (“VIEs”) in which the Partnership is deemed to be the primary beneficiary. Use of Estimates in Preparation of Consolidated Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in determining: (i) the fair value of MRBs and taxable MRBs; (ii) investment impairments; (iii) impairment of real estate assets; and (iv) allowances for loan losses. Risks and Uncertainties The Federal Reserve announced seven increases in short-term interest rates totaling 425 basis points during 2022 and an additional 25 basis point increase in February 2023. The Federal Reserve has signaled further future short-term interest rate increases to combat inflation in the broader economy. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have caused volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly those with fixed interest rates. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The current inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s investments and general operations, which may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Higher general and administrative expenses of the Partnership and real estate operating expenses of the MF Properties may adversely affect the Partnership’s operating results, including a reduction in net income. Furthermore, the potential for an economic recession either globally or locally in the U.S. or other economies could further impact the valuation of our investment assets, limit the Partnership’s ability to obtain additional debt financing from lenders, and limit opportunities for additional investments. Variable Interest Entities Under the accounting guidance for consolidation, the Partnership evaluates entities in which it holds a variable interest to determine if the entities are VIEs and if the Partnership is the primary beneficiary. The entity that is deemed to have: (1) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance; and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE, is considered the primary beneficiary. If the Partnership is deemed to be the primary beneficiary, then it will consolidate the VIEs in its consolidated financial statements. The Partnership has consolidated all VIEs in which it has determined it is the primary beneficiary. In the Partnership’s consolidated financial statements, all transactions and accounts between the Partnership and the consolidated VIEs have been eliminated in consolidation. The Partnership re-evaluates its accounting for VIEs at each reporting date based on events and circumstances at the VIEs. As a result, changes to the consolidated VIEs may occur in the future based on changes in circumstances. The accounting guidance on consolidations is complex and requires significant analysis and judgment. The Partnership does not believe that the consolidation of VIEs for reporting under GAAP impacts its status as a partnership for federal income tax purposes or the status of Unitholders as partners of the Partnership. In addition, the consolidation of VIEs is not expected to impact the treatment of the MRBs, GILs and property loans owned by consolidated VIEs, the tax-exempt nature of the interest payments on secured debt financings, or the manner in which the Partnership’s income is reported to Unitholders on IRS Schedule K-1. Cash and Cash Equivalents Cash and cash equivalents include highly liquid securities and investments in federally tax-exempt securities with maturities of three months or less when purchased. Concentration of Credit Risk The Partnership maintains the majority of its unrestricted cash balances at three financial institutions. The balances insured by the Federal Deposit Insurance Corporation are equal to $250,000 at each institution. At various times the cash balances have exceeded the $ 250,000 limit. The Partnership may from time to time invest in short-term investment grade securities. The Partnership is exposed to risk on its short-term investments in the event of non-performance by counterparties, though such risk is minimal and the Partnership does not anticipate any non-performance. Restricted Cash Restricted cash is legally restricted as to its use. The Partnership has been required to maintain restricted cash collateral related to one secured line of credit (Note 14) and the total return swap transaction (Note 17). In addition, the Partnership is required to maintain restricted cash balances related to the TEBS Financing facilities (Note 15), resident security deposits, required maintenance reserves, escrowed funds, and property rehabilitation. Restricted cash is presented with cash and cash equivalents in the consolidated statements of cash flows. Investments in Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds The Partnership accounts for its investments in MRBs and taxable MRBs under the accounting guidance for certain investments in debt and equity securities. The Partnership’s investments in these instruments are classified as available-for-sale debt securities and are reported at their estimated fair value. The net unrealized gains or losses on these investments are reflected on the Partnership’s consolidated statements of comprehensive income. Unrealized gains and losses do not affect the cash flow of the bonds, distributions to Unitholders, or the characterization of the interest income. See Note 23 for a description of the Partnership’s methodology for estimating the fair value of MRBs and taxable MRBs. The Partnership periodically reviews its MRBs and taxable MRBs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • Failure of the borrower to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If a MRB’s estimated fair value is below amortized cost, and the Partnership has the intent to sell or may be required to sell the MRB prior to the time that its value recovers or until maturity, the Partnership will record an other-than-temporary impairment through earnings equal to the difference between the MRB’s carrying value and its fair value. If the Partnership does not expect to sell an other-than-temporarily impaired MRB, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. In determining the provision for credit loss, the Partnership compares the present value of cash flows expected to be collected to the MRB’s amortized cost basis. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact on the Partnership’s consolidated financial statements. If the Partnership experiences deterioration in the values of its MRB portfolio, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings. The Partnership periodically reviews any previously impaired MRBs for indications of a recovery of value. If a recovery of value is identified, the Partnership will accrete the recovery of prior credit losses into investment income over the remaining term of the MRB. Investments in Governmental Issuer Loans and Taxable Governmental Issuer Loans The Partnership accounts for its investment in governmental issuer loans (“GILs”) and taxable GILs under the accounting guidance for certain investments in debt and equity securities. The Partnership’s investment in these instruments are classified as held-to-maturity debt securities and are reported at amortized cost. The Partnership periodically reviews its GILs and taxable GILs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • The failure of the borrower to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If the estimated fair value of a GIL or taxable GIL is below amortized cost, and the Partnership does not expect to recover its entire amortized cost, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact to the Partnership’s consolidated financial statements. If the Partnership experiences deterioration in the value of its GILs or taxable GILs, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings. Real Estate Assets The Partnership’s investments in real estate are carried at cost less accumulated depreciation. Depreciation of real estate is based on the estimated useful life of the related asset, generally 19 - 40 years on multifamily and student housing residential apartment buildings, and five to 15 years on capital improvements. Depreciation expense is calculated using the straight-line method. Maintenance and repairs are charged to expense as incurred, while improvements, renovations, and replacements are capitalized. The Partnership also holds land held for investment and development which is reported at cost. The Partnership recognizes gains and losses equal to the difference between proceeds on sale and the net carrying value of the assets at the date of disposition. The Partnership reviews real estate assets for impairment periodically and whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable. When indicators of potential impairment suggest that the carrying value of a real estate asset may not be recoverable, the Partnership compares the carrying amount of the real estate asset to the undiscounted net cash flows expected to be generated from the use of the asset. If the carrying value exceeds the undiscounted net cash flows, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. Investments in Unconsolidated Entities The Partnership accounts for its investments in unconsolidated entities under the equity method of accounting. Through ATAX Vantage Holdings, LLC and ATAX Freestone Holdings, LLC, the Partnership makes investments in non-controlling limited membership interests in entities formed to construct market-rate multifamily properties. The Partnership applies the equity method of accounting by initially recording these investments at cost, subsequently adjusted for accrued preferred returns, the Partnership’s share of earnings (losses) of the unconsolidated entities, cash contributions, and distributions. The Partnership reviews its investments in unconsolidated affiliates for impairment whenever events or changes in business circumstances indicate that the carrying amount of the investments may not be fully recoverable. Factors considered include: • The absence of an ability to recover the carrying amount of the investment; • The inability of the investee to sustain an earnings capacity that justifies the carrying amount of the investment; or • Estimated sales proceeds that are insufficient to recover the carrying amount of the investment. The Partnership’s assessment of whether a decline in value is other than temporary is based on the Partnership’s ability and intent to hold the investment and whether evidence indicating the carrying value of the investment is recoverable within a reasonable period of time outweighs evidence to the contrary. If the fair value of the investment is determined to be less than the carrying value and the decline in value is considered other than temporary, an impairment charge would be recorded equal to the excess of the carrying value over the estimated fair value of the investment. The Partnership earns a preferred return on its investments in Vantage properties that is guaranteed by an unrelated third party, which is also an affiliate of the unconsolidated entities. The term of the third-party guaranty is from the initial investment through a date approximately five years after commencement of construction. The Partnership recognizes its preferred return based upon the guaranty provided by the unrelated third-party, the guarantor’s financial ability to perform under the guaranty and the cash flows expected to be received from each property. Preferred returns are reported within “Investment income” on the Partnership’s consolidated statements of operations. The Partnership earns a preferred return on its investments in Freestone properties that is senior to the preferred return and return of capital of the other members of the unconsolidated entities. The Partnership recognizes its preferred return on each investment to the extent there is capital of the managing member of the unconsolidated entity to support the recognition of preferred return. Preferred returns are reported within “Investment income” on the Partnership’s consolidated statements of operations. In addition, the Partnership will recognize its share of earnings (losses) of the unconsolidated entities, when appropriate, and report within “Earnings (losses) from investments in unconsolidated entities” on the Partnership’s cons olidated statements of operations. There are generally no earnings (losses) reported during the construction period for each unconsolidated entity as construction costs are capitalized. Property Loans, Net The Partnership invests in property loans made to the owners of certain multifamily, student housing and skilled nursing properties. Most of the property loans have been made to multifamily properties that secure MRBs and GILs owned by the Partnership. The Partnership recognizes interest income on the property loans as earned and the interest income is reported within “Other interest income” on the Partnership’s consolidated statements of operations. Interest income is not recognized for property loans that are deemed to be in nonaccrual status. Interest income is recognized upon the repayment of these property loans and accrued interest which is dependent largely on the cash flows or proceeds upon sale or refinancing of the related property. Property loans are reported net of loan loss allowances. The Partnership periodically evaluates property loans for potential impairment by estimating the fair value of the related property and comparing the fair value to the outstanding MRBs, GILs or other senior financing, plus the Partnership’s property loans. The Partnership also considers financing commitments, borrower equity commitments, guaranties by borrower affiliates, and construction progress when assessing property loans associated with GIL investments. The Partnership utilizes a discounted cash flow model that considers varying assumptions including multiple revenue and expense scenarios, various capitalization rates, and multiple discount rates. The Partnership may also consider other information such as independent appraisals in estimating a property’s fair value. If the estimated fair value of the related property, after deducting the amortized cost basis of the MRB, GIL or other senior financing, exceeds the principal balance of the property loan then no potential loss is indicated and no allowance for loan loss is recorded. If a potential loss is indicated, an allowance for loan loss is recorded against the outstanding loan amount and a loss is recognized. The determination of the need for an allowance for loan loss is subject to considerable judgment. See Note 10 for additional information on the Partnership’s property loan loss allowances. Accounting for TOB, Term TOB, and TEBS Financing Arrangements The Partnership has evaluated the accounting guidance related to its TOB (“Tender Option Bond”), term TOB, and TEBS financings and has determined that the securitization transactions do not meet the accounting criteria for a sale or transfer of financial assets and therefore are accounted for as secured financing transactions. More specifically, the guidance on transfers and servicing sets forth the conditions that must be met to de-recognize a transferred financial asset. This guidance provides, in part, that the transferor has surrendered control over transferred assets if and only if the transferor does not maintain effective control over the transferred assets. The financing agreements contain certain provisions that allow the Partnership to unilaterally cause the holder to return the securitized assets, other than through a cleanup call. Based on these terms, the Partnership has concluded that the Partnership has not transferred effective control over the transferred assets and, as such, the transactions do not meet the conditions to de-recognize the transferred assets. In addition, the Partnership has evaluated the securitization trusts associated with the TOB, term TOB, and TEBS financings in accordance with guidance on consolidation of VIEs. See Note 5 for the consolidation analysis related to these secured financing arrangements. The Partnership is deemed to be the primary beneficiary of these securitization trusts and consolidates the assets, liabilities, income and expenses of the securitization trusts in the Partnership’s consolidated financial statements. The Partnership recognizes interest expense for fixed-rate TEBS financings with escalating stated interest rates using the effective interest method over the estimated term of the arrangement. Deferred Financing Costs Debt financing costs are capitalized and amortized using the effective interest method through either the stated maturity date or the optional redemption date of the related debt financing agreement. Debt financing costs associated with revolving line of credit arrangements are reported within “Other assets” on the Partnership’s consolidated balance sheets. Deferred financing costs associated with debt financing and mortgages payable arrangements are reported as reductions to the carrying value of the related liability on the Partnership’s consolidated balance sheets. Income Taxes No provision has been made for income taxes of the Partnership as it is a partnership for federal income tax purposes such that profits and losses are allocated to Unitholders, except for certain entities described below. The distributive share of income, deductions and credits is reported to Unitholders on Internal Revenue Service (“IRS”) Schedule K-1. The Partnership pays franchise margin taxes on revenues in certain jurisdictions relating to property loans and investments in unconsolidated entities. The Greens Hold Co is a corporation that is subject to federal and state income taxes. The Partnership recognizes income tax expense or benefit for the federal and state income taxes incurred by this entity in its consolidated financial statements. The Partnership evaluates its tax positions on the consolidated financial statements under the accounting guidance for uncertain tax positions. The Partnership may recognize a tax benefit from an uncertain tax position only if the Partnership believes it is more likely than not that the tax position will be sustained on examination by taxing authorities. The Partnership accrues interest and penalties, if any, and reports them within “Income tax expense” on the Partnership’s consolidated statements of operations. Deferred income tax expense or benefit, is generally a function of the period’s temporary differences (items that are treated differently for tax purposes than for financial reporting purposes), such as depreciation, amortization of financing costs, etc. and the utilization of tax net operating losses (“NOLs”). The Partnership values its deferred tax assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Partnership records a valuation allowance for deferred income tax assets if it believes all, or some portion, of the deferred income tax asset may not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances that causes a change in the estimated ability to realize the related deferred income tax asset is included in deferred income tax expense. Investment Income from Investments in Mortgage Revenue Bonds and Governmental Issuer Loans The interest income received by the Partnership from its MRBs and GILs is dependent upon the net cash flow of the underlying properties. Interest income on fully performing MRBs and GILs is recognized as it is earned. Current and past due interest income on MRBs and GILs not fully performing is recognized as it is received. The Partnership reinstates the accrual of interest once the MRB’s or GIL’s ability to perform is adequately demonstrated. Interest income related to MRBs and GILs is reported within “Investment Income” and interest income related to taxable MRBs and taxable GILs is reported within “Other interest income” on the Partnership’s consolidated statements of operations. As of December 31, 2022 and 2021, all of the Partnership’s MRBs and GILs were fully performing and current on all interest payments, with the exception of the Provision Center 2014-1 MRB and forbearance granted to the borrower of the Live 929 Apartments MRBs until January 2022. Premiums on callable MRB investments are amortized as a yield adjustment to the earliest call date. Discounts on MRB investments are amortized as a yield adjustment to the stated maturity date. Amortization of premiums and discounts is reported within “Investment income” on the Partnership’s consolidated statements of operations. Bond origination costs are capitalized and amortized utilizing the effective interest method over the period to the stated maturity of the related MRB and taxable MRB investments. Bond origination costs are reported as an adjustment to the cost adjusted for paydowns and allowances of the related MRB in Note 6. Derivative Instruments and Hedging Activities The Partnership reports interest rate derivatives on its consolidated balance sheets at fair value. The Partnership’s derivative instruments are not designated as hedging instruments for GAAP purposes and changes in fair value are reported within “Interest expense” on the Partnership’s consolidated statements of operations. The Partnership is exposed to loss upon defaults by its counterparties on its interest rate derivative agreements. The Partnership does not anticipate non-performance by any counterparty. Redeemable Preferred Units The Partnership has designated three series of Preferred Units consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The Partnership has issued Series A Preferred Units and Series A-1 Preferred Units, representing limited partnership interests in the Partnership to various financial institutions. The Series A Preferred Units and Series A-1 Preferred Units are recorded as mezzanine equity due to the holders’ redemption option which, if and when the units become subject to redemption, is outside the Partnership’s control. The costs of issuing the Series A Preferred Units and Series A-1 Preferred Units have been netted against the carrying value of the Series A Preferred Units and Series A-1 Preferred Units, and are amortized to the first redemption date. The Partnership will account for the Series B Preferred Units in a manner consistent with the Series A Preferred Units and Series A-1 Preferred Units if and when issued. Beneficial Unit Certificates (“BUCs”) The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs. As a result of the Reverse Unit Split, holders of BUCs received one BUC for every three BUCs owned at the close of business on April 1, 2022. All fractional BUCs created by the Reverse Unit Split were rounded to the nearest whole BUC, with any fraction equal to or above 0.5 BUC rounded up to the next higher BUC, as provided by the Partnership Agreement. Immediately prior to the Reverse Unit Split, there were 66,049,908 BUCs issued and outstanding, and immediately after the Reverse Unit Split the number of issued and outstanding BUCs decreased to 22,017,915 . In connection with the Reverse Unit Split, the CUSIP number for the BUCs changed to 02364V 206. The BUCs continue to trade on the NYSE under the trading symbol “GHI.” On September 14, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “Third Quarter BUCs Distribution”). The Third Quarter BUCs Distribution was paid at a ratio of 0.01044 BUCs for each issued and outstanding BUC as of the record date of September 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the Nasdaq Stock Market LLC on September 13, 2022, which was the national securities exchange upon which the BUCs were listed as of that date. The Third Quarter BUCs Distribution was completed on October 31, 2022. On December 19, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “Fourth Quarter BUCs Distribution”, collectively with the Third Quarter BUCs Distribution, the “BUCs Distributions”). The Fourth Quarter BUCs Distribution was paid at a ratio of 0.0105 BUCs for each issued and outstanding BUC as of the record date of December 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the NYSE on December 16, 2022. The Fourth Quarter BUCs Distribution was completed on January 31, 2023. There were no fractional BUCs issued in connection with the BUCs Distributions. All fractional BUCs resulting from the BUCs Distributions received cash for such fraction based on the market value of the BUCs on the record date. The one-for-three Reverse Unit Split and the BUCs Distributions have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s consolidated financial statements. Restricted Unit Awards (“RUA” or “RUAs”) On December 5, 2022, the Board of Managers of Greystone Manager approved the Amended and Restated Greystone Housing Impact Investors LP 2015 Equity Incentive Plan (the “Plan”) to reflect the Partnership’s new name. No material or other changes were made to the Plan. The Plan was approved by the BUC holders in September 2015and permits the grant of RUAs and other awards to the employees of Greystone Manager, or any affiliate, who performs services for Greystone Manager, the Partnership or an affiliate, and members of the Board of Managers of Greystone Manager . The Plan permits total grants of RUAs of up to 1.0 million BUCs, which reflects adjustments made to the number of BUCs that may be granted under the Plan as a result of the Reverse Unit Split. RUAs have historically been granted with vesting conditions ranging from three months to up to three years. RUAs typically provide for the payment of distributions during the restriction period. The RUAs prov

Partnership Income, Expenses an

Partnership Income, Expenses and Distributions	12 Months Ended
Partnership Income, Expenses and Distributions	Dec. 31, 2022
Partnership Income Expenses And Cash Distributions [Abstract]
Partnership Income, Expenses and Distributions	3. Partnership Income, Expenses and Distributions The Partnership Agreement contains provisions for the distribution of Net Interest Income, Net Residual Proceeds and Liquidation Proceeds, for the allocation of income or loss from operations, and for the allocation of income and loss arising from a repayment, sale, or liquidation of investments. Income and losses will be allocated to each Unitholder on a periodic basis, as determined by the General Partner, based on the number of Preferred Units and BUCs held by each Unitholder as of the last day of the period for which such allocation is to be made. Distributions of Net Interest Income and Net Residual Proceeds will be made to each Unitholder of record on the last day of each distribution period based on the number of Preferred Units and BUCs held by each Unitholder on that date. Cash distributions are currently made on a quarterly basis. The holders of the Preferred Units are entitled to distributions at a fixed rate per annum prior to payment of distributions to other Unitholders. For purposes of the Partnership Agreement, income and cash received by the Partnership from its investments in MF Properties, investments in unconsolidated entities, and property loans will be included in the Partnership’s Net Interest Income, and cash distributions received by the Partnership from the sale or redemption of such investments will be included in the Partnership’s Net Residual Proceeds. Net Interest Income (Tier 1) is allocated 99 % to the limited partners and BUC holders as a class and 1 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) are allocated 75 % to the limited partners and BUC holders as a class and 25 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) in excess of the maximum allowable amount as set forth in the Partnership Agreement are considered Net Interest Income (Tier 3) and Net Residual Proceeds (Tier 3) and are allocated 100 % to the limited partners and BUC holders as a class. Cash distributions paid or accrued per BUC during the fiscal years ended December 31, 2022 and 2021 were as follows: For the Years Ended December 31, 2022 2021 Cash distributions (1) $ 1.709 $ 1.469 (1) All cash distributions per BUC amounts above have been retroactively adjusted for the one-for-three Reverse Unit Split and the BUCs Distributions. In addition to cash distributions, the General Partner declared two distributions to BUC holders in the form of additional BUCs during 2022 totaling $ 0.40 per BUC. In October 2022, the Partnership completed the Third Quarter BUCs Distribution equal to $ 0.20 per BUC and paid at a ratio of 0.01044 BUCs for each BUC outstanding as of September 30, 2022. In January 2023, the Partnership completed the Fourth Quarter BUCs Distribution equal to $ 0.20 per BUC at a ratio of 0.0105 BUCs for each BUC outstanding as of December 30, 2022. The BUCs distributions were made pro rata among all BUC holders as of the record date, with BUC holders receiving cash for all resulting fractional BUCs.

Net Income per BUC

Net Income per BUC	12 Months Ended
Net Income per BUC	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Income per BUC	4. Net income per BUC The Partnership has disclosed basic and diluted net income per BUC in the Partnership’s consolidated statements of operations. The unvested RUAs issued under the Plan are considered participating securities and are potentially dilutive. There were no dilutive BUCs for the years ended December 31, 2022 and 2021.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
Variable Interest Entities	Dec. 31, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities	5. Variable Interest Entities Consolidated Variable Interest Entities ("VIEs") The Partnership has determined the TOB, term TOB and TEBS financings are VIEs where the Partnership is the primary beneficiary. In determining the primary beneficiary of each VIE, the Partnership considered which party has the power to control the activities of the VIE which most significantly impact its financial performance, the risks that the entity was designed to create, and how each risk affects the VIE. The agreements related to the TOB, term TOB and TEBS financings stipulate the Partnership has the sole right to cause the trusts to sell the underlying assets. If the underlying assets were sold, the extent to which the VIEs will be exposed to gains or losses would result from decisions made by the Partnership. As the primary beneficiary, the Partnership reports the TOB, term TOB, and TEBS financings on a consolidated basis. The Partnership reports the senior securities related to the TOB, term TOB, and TEBS financings as secured debt financings on the Partnership’s consolidated balance sheets (Note 15). The investment assets securing the TOB, term TOB, and TEBS financings are reported as assets on the Partnership’s consolidated balance sheets (Notes 6, 7, 10 and 12). The Partnership has determined its investment in Vantage at San Marcos is a VIE and the Partnership is the primary beneficiary. The Partnership may currently require the managing member of the VIE to purchase the Partnership’s equity investment in the VIE at a price equal to the Partnership’s carrying value. If the Partnership were to redeem its investment, the underlying assets of the project would likely need to be sold. If the underlying assets were sold, the extent to which the VIE will be exposed to gains or losses would result from decisions made by the Partnership. The Partnership’s option to redeem its investment in Vantage at San Marcos became effective beginning in the fourth quarter of 2021. As the primary beneficiary, the Partnership reports the assets and liabilities of Vantage at San Marcos on a consolidated basis, which consist of a real estate asset investment (Note 8), mortgage payable (Note 16), and current liabilities associated with the construction costs of a market-rate multifamily property (Note 13). If certain events occur in the future, the Partnership’s option to redeem the investment will terminate and the VIE may be deconsolidated. During 2021, the Partnership consolidated Vantage at Hutto and Vantage at Fair Oaks because it could require the managing member of the VIEs to purchase the Partnership’s equity investments in the VIEs at a price equal to the Partnership’s carrying value. The Partnership’s right to require the managing members of the VIEs to purchase the Partnership’s equity investments at a price equal to the Partnership’s carrying values was terminated during 2021 upon construction commencement. As such, the Partnership is no longer the primary beneficiary of the VIEs and they are not reported on a consolidated basis and were instead reported as investments in unconsolidated entities as of December 31, 2022 and 2021. Non-Consolidated VIEs The Partnership has variable interests in various VIEs in the form of MRBs, taxable MRBs, GILs, taxable GILs, property loans and investments in unconsolidated entities. These variable interests do not allow the Partnership to direct the activities that most significantly impact the economic performance of such VIEs. As a result, the Partnership is not considered the primary beneficiary and does not consolidate the financial statements of these VIEs in the consolidated financial statements. The Partnership held variable interests in 35 and 30 non-consolidated VIEs as of December 31, 2022 and 2021, respectively. The following table summarizes the Partnership’s maximum exposure to loss associated with its variable interests as of December 31, 2022 and 2021: Maximum Exposure to Loss December 31, 2022 December 31, 2021 Mortgage revenue bonds $ 71,629,581 $ 51,045,000 Taxable mortgage revenue bonds 3,044,829 2,000,000 Governmental issuer loans 300,230,435 184,767,450 Taxable governmental issuer loans 8,000,000 1,000,000 Property loans 169,002,497 47,274,576 Investments in unconsolidated entities 115,790,841 107,793,522 $ 667,698,183 $ 393,880,548 The Partnership’s maximum exposure to loss for the MRBs and taxable MRBs as of December 31, 2022 is equal to the Partnership’s cost adjusted for paydowns. The difference between the MRB carrying value in the Partnership's consolidated balance sheets and the maximum exposure to loss is a function of the unrealized gains or losses. The Partnership has future MRB and taxable MRB funding commitments related to non-consolidated VIEs totaling $ 103.0 million and $ 31.9 million , respectively, as of December 31, 2022 (Note 18). The Partnership’s maximum exposure to loss for the GILs, taxable GILs, property loans and investments in unconsolidated entities as of December 31, 2022 is equal to the Partnership’s carrying value. The Partnership has future GIL, taxable GIL, property loan and investment in unconsolidated entities funding commitments related to non-consolidated VIEs totaling $ 103.9 million , $ 59.2 million , $ 56.7 million , and $ 30.5 million , respectively, as of December 31, 2022 (Note 18).

Mortgage Revenue Bonds

Mortgage Revenue Bonds	12 Months Ended
Mortgage Revenue Bonds	Dec. 31, 2022
Investments In Mortgage Revenue Bonds [Abstract]
Mortgage Revenue Bonds	6. Mortgage Revenue Bonds The Partnership invests in MRBs that are issued by state and local governments, their agencies, and authorities to finance the construction or acquisition and rehabilitation of income-producing multifamily rental properties. An MRB does not constitute an obligation of any state or local government, agency or authority and no state or local government, agency or authority is liable on them, nor is the taxing power of any state or local government pledged to the payment of principal or interest on an MRB. An MRB is a non-recourse obligation of the property owner. Each MRB is collateralized by a mortgage on all real and personal property of the secured property. Typically, the sole source of the funds to pay principal and interest on an MRB is the net cash flow or the sale or refinancing proceeds from the secured property. The Partnership may commit to provide funding for MRBs on a draw-down basis during construction and/or rehabilitation of secured property and may require recourse to the borrower during the construction or rehabilitation period in certain instances. The Partnership expects and believes that the interest received on our MRBs is excludable from gross income for federal income tax purposes. The Partnership primarily invests in MRBs that are senior obligations of the secured properties, though it may also invest in subordinate MRBs or taxable MRBs that share the first mortgage lien with the related MRBs. The MRBs predominantly bear interest at fixed interest rates and require regular principal and interest payments on either a monthly or semi-annual basis. MRBs may have optional call dates that may be exercised by the borrower or the Partnership that are earlier than the contractual maturity. Such optional calls may be at either par or a premium to par. The Partnership had the following MRB investments as of December 31, 2022 and 2021: December 31, 2022 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,874,603 $ 888,242 $ - $ 10,762,845 Glenview Apartments - Series A (3) CA 4,372,370 309,570 - 4,681,940 Harmony Court Bakersfield - Series A (4) CA 3,600,418 274,456 - 3,874,874 Harmony Terrace - Series A (4) CA 6,665,787 625,752 - 7,291,539 Harden Ranch - Series A (2) CA 6,449,455 581,466 - 7,030,921 Las Palmas II - Series A (4) CA 1,633,397 140,681 - 1,774,078 Lutheran Gardens (6) CA 10,352,000 127,107 - 10,479,107 Montclair Apartments - Series A (3) CA 2,368,757 199,617 - 2,568,374 Montecito at Williams Ranch Apartments - Series A (6) CA 7,507,111 834,292 - 8,341,403 Montevista - Series A (6) CA 6,656,219 902,690 - 7,558,909 Ocotillo Springs - Series A (6), (7) CA 11,090,000 - ( 331,311 ) 10,758,689 Residency at the Entrepreneur - Series J-1 (6) CA 9,088,496 122,815 - 9,211,311 Residency at the Entrepreneur - Series J-2 (6) CA 7,500,000 176,092 - 7,676,092 Residency at the Entrepreneur - Series J-3 (6) CA 3,900,000 726,834 - 4,626,834 Residency at the Mayer - Series A (6) CA 26,067,585 - - 26,067,585 San Vicente - Series A (4) CA 3,367,978 255,787 - 3,623,765 Santa Fe Apartments - Series A (3) CA 2,869,660 216,000 - 3,085,660 Seasons at Simi Valley - Series A (4) CA 4,137,438 522,910 - 4,660,348 Seasons Lakewood - Series A (4) CA 7,100,512 666,562 - 7,767,074 Seasons San Juan Capistrano - Series A (4) CA 11,954,944 1,038,904 - 12,993,848 Summerhill - Series A (4) CA 6,199,861 265,296 - 6,465,157 Sycamore Walk - Series A (4) CA 3,428,986 124,598 - 3,553,584 The Village at Madera - Series A (4) CA 2,977,825 247,354 - 3,225,179 Tyler Park Townhomes - Series A (2) CA 5,616,043 264,300 - 5,880,343 Vineyard Gardens - Series A (6) CA 3,908,104 514,719 - 4,422,823 Westside Village Market - Series A (2) CA 3,670,075 267,369 - 3,937,444 Brookstone (1) IL 7,286,052 1,286,871 - 8,572,923 Copper Gate Apartments (2) IN 4,840,000 117,014 - 4,957,014 Renaissance - Series A (3) LA 10,585,375 645,412 - 11,230,787 Live 929 Apartments - Series 2022A (6) MD 58,107,262 2,217,857 - 60,325,119 Jackson Manor Apartments (6) MS 6,900,000 - - 6,900,000 Greens Property - Series A (2) NC 7,599,000 597 - 7,599,597 Silver Moon - Series A (3) NM 7,557,312 863,401 - 8,420,713 Village at Avalon (5) NM 15,942,560 1,727,010 - 17,669,570 Columbia Gardens (4) SC 12,542,207 968,469 - 13,510,676 Companion at Thornhill Apartments (4) SC 10,786,181 709,979 - 11,496,160 The Palms at Premier Park Apartments (2) SC 18,137,042 808,555 - 18,945,597 The Park at Sondrio - Series 2022A (6) SC 38,100,000 - - 38,100,000 The Park at Vietti - Series 2022A (6) SC 26,985,000 - - 26,985,000 Village at River's Edge (4) SC 9,649,659 590,962 - 10,240,621 Willow Run (4) SC 12,368,964 953,988 - 13,322,952 Arbors at Hickory Ridge (2) TN 10,591,726 2,005,029 - 12,596,755 Avistar at Copperfield - Series A (6) TX 13,532,636 919,463 - 14,452,099 Avistar at the Crest - Series A (2) TX 8,896,378 975,504 - 9,871,882 Avistar at the Oaks - Series A (2) TX 7,196,674 717,701 - 7,914,375 Avistar at the Parkway - Series A (3) TX 12,429,842 950,930 - 13,380,772 Avistar at Wilcrest - Series A (6) TX 5,128,595 170,370 - 5,298,965 Avistar at Wood Hollow - Series A (6) TX 38,941,304 2,645,832 - 41,587,136 Avistar in 09 - Series A (2) TX 6,214,048 619,707 - 6,833,755 Avistar on the Boulevard - Series A (2) TX 15,155,942 1,290,551 - 16,446,493 Avistar on the Hills - Series A (2) TX 4,927,003 523,079 - 5,450,082 Bruton Apartments (4) TX 17,381,296 281,271 - 17,662,567 Concord at Gulfgate - Series A (4) TX 18,404,942 1,842,303 - 20,247,245 Concord at Little York - Series A (4) TX 12,893,533 1,249,523 - 14,143,056 Concord at Williamcrest - Series A (4) TX 19,973,464 1,935,645 - 21,909,109 Crossing at 1415 - Series A (4) TX 7,170,756 605,369 - 7,776,125 Decatur Angle (4) TX 21,866,672 77,837 - 21,944,509 Esperanza at Palo Alto (4) TX 18,916,082 2,209,462 - 21,125,544 Heights at 515 - Series A (4) TX 6,564,951 573,569 - 7,138,520 Heritage Square - Series A (3) TX 10,325,196 671,790 - 10,996,986 Oaks at Georgetown - Series A (4) TX 11,911,472 746,300 - 12,657,772 Runnymede (1) TX 9,535,000 45,577 - 9,580,577 Southpark (1) TX 11,257,062 1,352,726 - 12,609,788 15 West Apartments (4) WA 9,454,318 1,534,060 - 10,988,378 Mortgage revenue bonds held in trust $ 718,413,130 $ 45,127,126 $ ( 331,311 ) $ 763,208,945 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 (7) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. December 31, 2022 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments CA $ 3,792,700 $ 42,672 $ - $ 3,835,372 Residency at Empire - Series BB-1 CA 14,118,500 - - 14,118,500 Residency at Empire - Series BB-2 CA 4,000,000 - - 4,000,000 Residency at Empire - Series BB-3 CA 55,000 - - 55,000 Solano Vista - Series A CA 2,631,168 297,861 - 2,929,029 Meadow Valley (1) MI 4,833,437 - ( 1,193,085 ) 3,640,352 Greens Property - Series B NC 915,039 122 - 915,161 Provision Center 2014-1 TN 4,294,939 - - 4,294,939 Avistar at the Crest - Series B TX 724,747 53,132 - 777,879 Avistar at the Oaks - Series B TX 530,829 33,406 - 564,235 Avistar at the Parkway - Series B TX 123,176 22,510 - 145,686 Avistar in 09 - Series B TX 437,886 27,557 - 465,443 Avistar on the Boulevard - Series B TX 430,647 26,816 - 457,463 Mortgage revenue bonds held by the Partnership $ 36,888,068 $ 504,076 $ ( 1,193,085 ) $ 36,199,059 (1) The Partnership has a remaining MRB funding commitment of $ 39.3 million as of December 31, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 39.3 million funding commitment outstanding as of December 31, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary. December 31, 2021 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,970,209 $ 2,060,480 $ - $ 12,030,689 Glenview Apartments - Series A (3) CA 4,429,350 863,955 - 5,293,305 Harmony Court Bakersfield - Series A (4) CA 3,635,277 720,308 - 4,355,585 Harmony Terrace - Series A (4) CA 6,730,004 1,425,757 - 8,155,761 Harden Ranch - Series A (2) CA 6,538,111 1,285,747 - 7,823,858 Las Palmas II - Series A (4) CA 1,649,370 332,704 - 1,982,074 Montclair Apartments - Series A (3) CA 2,399,626 446,912 - 2,846,538 Montecito at Williams Ranch Apartments - Series A (6) CA 7,568,334 1,983,454 - 9,551,788 Montevista - Series A (6) CA 6,701,776 2,114,978 - 8,816,754 Ocotillo Springs - Series A (6) CA 15,000,000 271,172 - 15,271,172 Residency at the Mayer - Series A (6) CA 24,000,000 - - 24,000,000 San Vicente - Series A (4) CA 3,400,913 671,681 - 4,072,594 Santa Fe Apartments - Series A (3) CA 2,907,057 567,028 - 3,474,085 Seasons at Simi Valley - Series A (4) CA 4,188,582 1,011,623 - 5,200,205 Seasons Lakewood - Series A (4) CA 7,168,917 1,518,742 - 8,687,659 Seasons San Juan Capistrano - Series A (4) CA 12,070,116 2,557,065 - 14,627,181 Summerhill - Series A (4) CA 6,259,888 1,187,464 - 7,447,352 Sycamore Walk - Series A (4) CA 3,474,617 696,090 - 4,170,707 The Village at Madera - Series A (4) CA 3,006,656 621,367 - 3,628,023 Tyler Park Townhomes - Series A (2) CA 5,694,168 691,137 - 6,385,305 Vineyard Gardens - Series A (6) CA 3,939,476 987,782 - 4,927,258 Westside Village Market - Series A (2) CA 3,721,129 701,915 - 4,423,044 Brookstone (1) IL 7,334,161 1,903,086 - 9,237,247 Copper Gate Apartments (2) IN 4,900,000 433,436 - 5,333,436 Renaissance - Series A (3) LA 10,732,295 4,172,381 - 14,904,676 Live 929 Apartments - 2014 Series A (6) MD 36,169,147 573,155 - 36,742,302 Jackson Manor Apartments (6) MS 4,900,000 - - 4,900,000 Gateway Village (6) NC 2,600,000 90,861 - 2,690,861 Greens Property - Series A (2) NC 7,719,000 281,953 - 8,000,953 Lynnhaven Apartments (6) NC 3,450,000 115,328 - 3,565,328 Silver Moon - Series A (3) NM 7,629,704 1,868,323 - 9,498,027 Village at Avalon (5) NM 16,069,382 4,124,498 - 20,193,880 Ohio Properties - Series A (1) OH 13,580,000 - - 13,580,000 Bridle Ridge (1) SC 7,145,000 - - 7,145,000 Columbia Gardens (4) SC 12,725,440 2,003,599 - 14,729,039 Companion at Thornhill Apartments (4) SC 10,924,609 1,793,226 - 12,717,835 Cross Creek (1) SC 6,120,285 1,845,064 - 7,965,349 The Palms at Premier Park Apartments (2) SC 18,385,572 2,181,632 - 20,567,204 Village at River's Edge (4) SC 9,728,355 2,370,569 - 12,098,924 Willow Run (4) SC 12,549,146 1,974,479 - 14,523,625 Arbors at Hickory Ridge (2) TN 10,755,889 3,598,292 - 14,354,181 Avistar at Copperfield - Series A (6) TX 13,678,286 2,549,711 - 16,227,997 Avistar at the Crest - Series A (2) TX 9,022,172 1,926,825 - 10,948,997 Avistar at the Oaks - Series A (2) TX 7,295,334 1,578,333 - 8,873,667 Avistar at the Parkway - Series A (3) TX 12,579,783 2,353,247 - 14,933,030 Avistar at Wilcrest - Series A (6) TX 5,183,794 772,242 - 5,956,036 Avistar at Wood Hollow - Series A (6) TX 39,360,426 7,200,790 - 46,561,216 Avistar in 09 - Series A (2) TX 6,299,237 1,288,060 - 7,587,297 Avistar on the Boulevard - Series A (2) TX 15,370,243 3,165,575 - 18,535,818 Avistar on the Hills - Series A (2) TX 4,994,549 1,100,478 - 6,095,027 Bruton Apartments (4) TX 17,532,185 4,452,765 - 21,984,950 Concord at Gulfgate - Series A (4) TX 18,606,719 4,211,979 - 22,818,698 Concord at Little York - Series A (4) TX 13,034,887 3,055,517 - 16,090,404 Concord at Williamcrest - Series A (4) TX 20,192,436 4,651,973 - 24,844,409 Crossing at 1415 - Series A (4) TX 7,253,698 1,549,224 - 8,802,922 Decatur Angle (4) TX 22,074,594 4,731,759 - 26,806,353 Esperanza at Palo Alto (4) TX 19,071,622 5,317,911 - 24,389,533 Heights at 515 - Series A (4) TX 6,640,885 1,418,341 - 8,059,226 Heritage Square - Series A (3) TX 10,455,924 1,823,426 - 12,279,350 Oaks at Georgetown - Series A (4) TX 12,026,225 2,181,690 - 14,207,915 Runnymede (1) TX 9,675,000 99,489 - 9,774,489 Southpark (1) TX 11,365,100 1,542,509 - 12,907,609 15 West Apartments (4) WA 9,531,842 2,799,259 - 12,331,101 Mortgage revenue bonds held in trust $ 639,116,502 $ 111,818,346 $ - $ 750,934,848 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 December 31, 2021 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Lutheran Gardens CA $ 10,352,000 $ - $ - $ 10,352,000 Solano Vista - Series A CA 2,649,291 744,617 - 3,393,908 Live 929 Apartments - 2014 Series B MD 17,344,000 - - 17,344,000 Meadow Valley MI 100,000 - - 100,000 Greens Property - Series B NC 920,637 46,672 - 967,309 Ohio Properties - Series B OH 3,465,270 - - 3,465,270 Provision Center 2014-1 TN 4,300,000 - - 4,300,000 Avistar at the Crest - Series B TX 730,612 122,646 - 853,258 Avistar at the Oaks - Series B TX 534,953 86,437 - 621,390 Avistar at the Parkway - Series B TX 123,598 37,590 - 161,188 Avistar in 09 - Series B TX 441,288 71,303 - 512,591 Avistar on the Boulevard - Series B TX 434,132 69,950 - 504,082 Mortgage revenue bonds held by the Partnership $ 41,395,781 $ 1,179,215 $ - $ 42,574,996 The Partnership has committed to provide funding for certain MRBs on a draw-down basis during construction and/or rehabilitation of the secured properties as of December 31, 2022. See Note 18 for additional information regarding the Partnership’s MRB funding commitments. See Note 23 for a description of the methodology and significant assumptions used in determining the fair value of the MRBs. Unrealized gains or losses on the MRBs are recorded in the Partnership’s consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the MRBs. During the year ended December 31, 2021, the Partnership recognized a provision for credit loss of $ 1.9 million related to the Provision Center 2014-1 MRB in its consolidated statements of operations. The borrower of the Provision Center 2014-1 MRB filed for Chapter 11 bankruptcy in December 2020 and ceased making contractual principal and interest payments. The credit loss was driven primarily by collateral information obtained during the bankruptcy process. The underlying property was successfully sold out of bankruptcy in July 2022 and final settlement of the bankruptcy estate is ongoing. The net carrying value of the MRB, inclusive of accrued interest, is $ 4.6 million as of December 31, 2022, which is the estimate of the proceeds that will ultimately receive upon liquidation of the bankruptcy and bond trust estate. The Partnership received $ 3.7 million of initial proceeds in January 2023 and expects the remaining proceeds to be received at final liquidation. Activity in 2022: Acquisitions: The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the year ended December 31, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Residency at the Entrepreneur - Series J-1 April Los Angeles, CA 200 3/31/2040 6.00 % $ 9,000,000 Residency at the Entrepreneur - Series J-2 April Los Angeles, CA 200 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 (1) April Los Angeles, CA 200 3/31/2040 6.00 % - Residency at the Entrepreneur - Series J-4 (1) April Los Angeles, CA 200 3/31/2040 SOFR + 3.60 % (2) - CCBA Senior Garden Apartments (3) June San Diego, CA 45 7/1/2037 4.50 % 3,807,000 Park at Sondrio - Series 2022A December Greenville, SC 271 1/1/2030 6.50 % 38,100,000 Park at Vietti - Series 2022A December Spartanburg, SC 204 1/1/2030 6.50 % 26,985,000 Residency at Empire - Series BB-1 December Burbank, CA 148 12/1/2040 6.45 % (4) 14,000,000 Residency at Empire - Series BB-2 December Burbank, CA 148 12/1/2040 6.45 % (4) 4,000,000 Residency at Empire - Series BB-3 (5) December Burbank, CA 148 12/1/2040 6.45 % (4) 55,000 Residency at Empire - Series BB-4 (5) December Burbank, CA 148 12/1/2040 6.45 % (6) - $ 103,447,000 (1) The Partnership has committed to provide funding for the Series J-3 and Series J-4 MRBs of $ 26.1 million and $ 16.4 million, respectively. See Note 18. (2) The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. (3) The investment was previously reported as a bond purchase commitment that has converted to an MRB. (4) In December 2029, the interest rate will reset to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. (5) The Partnership has committed to provide additional funding during construction for the Series BB-3 and Series BB-4 MRBs of $ 13.9 million and $ 47.0 million, respectively. See Note 18. (6) Upon stabilization, the MRB will resize to an amount not to exceed $ 3.3 million and become subordinate to the other senior MRBs of the borrower. In December 2029, the interest rate will convert to a fixed rate of 10.0 %. Restructurings: In January 2022, the Live 929 Apartments property completed a restructuring of the Partnership’s MRBs and property loan. The Partnership’s Live 929 Apartments – 2014 Series A and Live 929 Apartments – 2014 Series B MRBs were redeemed at par plus accrued interest. The following tables summarizes the terms of the MRBs upon redemption: Property Name Month Property Location Units Original Interest Rate Principal Live 929 Apartments - 2014 Series A January Baltimore, MD 575 7/1/2049 5.78 % $ 39,445,000 Live 929 Apartments - 2014 Series B January Baltimore, MD 575 7/1/2039 1.60 % 21,610,000 $ 61,055,000 Upon restructuring, the Partnership used the proceeds of the redeemed MRBs plus additional cash to acquire a new series of MRB secured by the Live 929 Apartments property, the Series 2022A MRB. The following tables summarizes the MRB that was acquired as part of the restructuring of the Live 929 Apartments MRBs: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Live 929 Apartments - Series 2022A January Baltimore, MD 575 1/1/2060 4.30 % $ 66,365,000 In addition, a portion of the Live 929 Apartments property loan was redeemed as part of the restructuring, with proceeds used to acquire the new Live 929 Apartments Series 2022A MRB. The Partnership also acquired a taxable MRB which is reported in Other Assets (Note 12). The redemption of the prior Live 929 Apartments – 2014 Series A and 2014 Series B MRBs and property loan and acquisition of the new Live 929 Apartments Series 2022A MRB were accounted for as a troubled debt restructuring. Redemptions: The following MRBs were redeemed at prices that approximated the Partnership's carrying value plus accrued interest during the year ended December 31, 2022: Property Name Month Property Location Units Original Interest Rate Principal Ohio Properties - Series A March (1) 362 6/1/2050 7.00 % $ 13,544,000 Ohio Properties - Series B March (1) 362 6/1/2050 10.00 % 3,459,840 Bridle Ridge May Greer, SC 152 1/1/2043 6.00 % 7,100,000 Cross Creek September Beaufort, SC 144 3/1/2049 6.15 % 7,666,752 Gateway Village October Durham, NC 64 4/1/2032 6.10 % 2,589,163 Lynnhaven Apartments October Durham, NC 75 4/1/2032 6.10 % 3,435,621 $ 37,795,376 (1) The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. Activity in 2021: Acquisitions: The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the year ended December 31, 2021: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funded Jackson Manor Apartments (1) April Jackson, MS 60 5/1/2038 5.00 % $ 4,150,000 Residency at the Mayer - Series A (2) October Hollywood, CA 79 4/1/2039 SOFR + 3.60 % (3) 24,000,000 Meadow Valley (4) December Garfield Charter Township, MI 154 12/1/2029 6.25 % 100,000 Lutheran Gardens December Compton, CA 76 2/1/2025 4.90 % 10,352,000 Live 929 Apartments - Series B (5) December Baltimore, MD 575 7/1/2039 1.60 % (6) 21,680,000 $ 60,282,000 (1) The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million. (2) The Partnership committed to provide total funding of the MRB up to $ 29.5 million during the acquisition and rehabilitation phase of the property on a drawdown 18.1 (3) The index is subject to a floor of 0.25 %. (4) The Partnership committed to provide total funding of the MRB up to $ 44.0 million during construction on a draw-down basis. (5) The Partnership purchased the MRB at a discount to outstanding principal of $ 4.3 million. The purchase price of the bond was $ 17.3 million. (6) The MRB has a variable interest rate equal to 69.5 % of the sum of LIBOR plus 1.80 % multiplied by a margin equal to one minus the maximum U.S. Federal Redemptions: The following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest , except as noted below, during the year ended December 31, 2021: Property Name Month Property Location Units Original Interest Rate Principal Arby Road Apartments - Series A (1) March Las Vegas, NV 180 10/1/2027 5.35 % $ 1,600,000 Arby Road Apartments - Series A (1) March Las Vegas, NV 180 4/1/2041 5.50 % 5,785,000 Rosewood Townhomes - Series A July Goose Creek, SC 100 7/1/2055 5.75 % 9,259,206 Rosewood Townhomes - Series B July Goose Creek, SC 100 8/1/2055 12.00 % 469,781 South Pointe Apartments - Series A July Hanahan, SC 256 7/1/2055 5.75 % 21,551,600 South Pointe Apartments - Series B July Hanahan, SC 256 8/1/2055 12.00 % 1,099,487 Woodlynn Village November Maplewood, MN 59 11/1/2042 6.00 % 4,065,000 $ 43,830,074 (1) Both MRBs are part of the same series but had different interest rates and maturity dates. The Rosewood Townhomes - Series A and South Pointe Apartments - Series A MRBs were redeemed at 106 % of par value plus accrued interest in July 2021. The redemption premium of approximately $ 1.8 million is reported as “Contingent interest income” in the Partnership’s consolidated statements of operations. All other MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest. The following table summarizes the changes in the Partnership’s allowance for credit losses for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Balance, beginning of period $ 9,175,482 $ 7,318,589 Provision for credit loss - 1,856,893 Other additions (1) 860,533 - Recovery of prior credit loss (2) ( 57,124 ) - Balance, end of period (3) $ 9,978,891 $ 9,175,482 (1) The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of December 31, 2021 and 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB. Geographic Concentrations The properties securing the Partnership’s MRBs are geographically dispersed throughout the United States with significant concentrations in Texas, California and South Carolina. The table below summarizes the geographic concentrations in these states as a percentage of the total MRB principal outstanding: December 31, 2022 December 31, 2021 Texas 37 % 41 % California 26 % 23 % South Carolina 17 % 11 % The following tables represent a description of certain terms of the Partnership’s MRBs as of December 31, 2022, and 2021: Property Name Year Acquired Location Maturity Date Base Interest Rate Principal Outstanding as of December 31, 2022 15 West Apartments - Series A (4) 2016 Vancouver, WA 7/1/2054 6.25 % $ 9,454,318 Arbors at Hickory Ridge (2) 2012 Memphis, TN 1/1/2049 6.25 % 10,545,462 Avistar at Copperfield - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 13,532,636 Avistar on the Boulevard - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 15,155,942 Avistar at the Crest - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 8,896,378 Avistar (February 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 4/1/2050 9.00 % 1,155,394 Avistar at the Oaks - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 7,196,674 Avistar in 09 - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 6,214,048 Avistar on the Hills - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 4,927,003 Avistar (June 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 9/1/2050 9.00 % 968,715 Avistar at the Parkway - Series A (3) 2015 San Antonio, TX 5/1/2052 6.00 % 12,429,842 Avistar at the Parkway - Series B 2015 San Antonio, TX 6/1/2052 12.00 % 123,176 Avistar at Wilcrest - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 5,128,595 Avistar at Wood Hollow - Series A (6) 2017 Austin, TX 5/1/2054 5.75 % 38,941,304 Brookstone (1) 2009 Waukegan, IL 5/1/2040 5.45 % 8,403,386 Bruton Apartments (4) 2014 Dallas, TX 8/1/2054 6.00 % 17,381,296 CCBA Senior Garden Apartments 2022 San Diego, CA 7/1/2037 4.50 % 3,792,700 Columbia Gardens (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,455,000 Companion at Thornhill Apartments (4) 2016 Lexington, SC 1/1/2052 5.80 % 10,786,181 Concord at Gulfgate - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 18,404,942 Concord at Little York - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 12,893,533 Concord at Williamcrest - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 19,973,464 Copper Gate Apartments (2) 2013 Lafayette, IN 12/1/2029 6.25 % 4,840,000 Courtyard - Series A (4) 2016 Fullerton, CA 12/1/2033 5.00 % 9,874,603 Crossing at 1415 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 7,170,756 Decatur Angle (4) 2014 Fort Worth, TX 1/1/2054 5.75 % 21,866,672 Esperanza at Palo Alto (4) 2018 San Antonio, TX 7/1/2058 5.80 % 18,916,082 Glenview Apartments - Series A (3) 2014 Cameron Park, CA 12/1/2031 5.75 % 4,372,370 Greens Property - Series A (2) 2012 Durham, NC 10/1/2047 6.50 % 7,599,000 Greens Property - Series B 2012 Durham, NC 10/1/2047 12.00 % 915,039 Harden Ranch - Series A (2) 2014 Salinas, CA 3/1/2030 5.75 % 6,449,455 Harmony Court Bakersfield - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 3,600,418 Harmony Terrace - Series A (4) 2016 Simi Valley, CA 1/1/2034 5.00 % 6,665,787 Heights at 515 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 6,564,951 Heritage Square - Series A (3) 2014 Edinburg, TX 9/1/2051 6.00 % 10,325,196 Jackson Manor Apartments (6) 2021 Jackson, MS 5/1/2038 5.00 % 6,900,000 Las Palmas II - Series A (4) 2016 Coachella, CA 11/1/2033 5.00 % 1,633,397 Live 929 Apartments - Series 2022A (6) 2022 Baltimore, MD 1/1/2060 4.30 % 66,365,000 Lutheran Gardens (6) 2021 Compton, CA 2/1/2025 4.90 % 10,352,000 Meadow Valley 2021 Garfield Charter Township, MI 12/1/2029 6.25 % 4,723,437 Montclair Apartments - Series A (3) 2014 Lemoore, CA 12/1/2031 5.75 % 2,368,757 Montecito at Williams Ranch Apartments - Series A (6) 2017 Salinas, CA 10/1/2034 5.50 % 7,507,111 Montevista - Series A (6) 2019 San Pablo, CA 7/1/2036 5.75 % 6,656,219 Oaks at Georgetown - Series A (4) 2016 Georgetown, TX 1/1/2034 5.00 % 11,911,472 Ocotillo Springs - Series A (6) 2020 Brawley, CA 8/1/2037 4.55 % 11,090,000 Park at Sondrio - Series 2022A (6) 2022 Greenville, SC 1/1/2030 6.50 % 38,100,000 Park at Vietti - Series 2022A (6) 2022 Spartanburg, SC 1/1/2030 6.50 % 26,985,000 Provision Center 2014-1 2014 Knoxville, TN 5/1/2034 6.00 % 10,000,000 Renaissance - Series A (3) 2015 Baton Rouge, LA 6/1/2050 6.00 % 10,585,375 Residency at Empire - Series BB-1 2022 Burbank, CA 12/1/2040 6.45 % 14,000,000 Residency at Empire - Series BB-2 2022 Burbank, CA 12/1/2040 6.45 % 4,000,000 Residency at Empire - Series BB-3 2022 Burbank, CA 12/1/2040 6.45 % 55,000 Residency at the Entrepreneur - Series J-1 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 9,000,000 Residency at the Entrepreneur - Series J-2 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 3,900,000 Residency at the Mayer - Series A (6) 2021 Hollywood, CA 4/1/2039 3.85 % 26,000,000 Runnymede (1) 2007 Austin, TX 10/1/2042 6.00 % 9,535,000 San Vicente - Series A (4) 2016 Soledad, CA 11/1/2033 5.00 % 3,367,978 Santa Fe Apartments - Series A (3) 2014 Hesperia, CA 12/1/2031 5.75 % 2,869,660 Seasons at Simi Valley - Series A (4) 2015 Simi Valley, CA 9/1/2032 5.75 % 4,137,438 Seasons Lakewood - Series A (4) 2016 Lakewood, CA 1/1/2034 5.00 % 7,100,512 Seasons San Juan Capistrano - Series A (4) 2016 San Juan Capistrano, CA 1/1/2034 5.00 % 11,954,944 Silver Moon - Series A (3) 2015 Albuquerque, NM 8/1/2055 6.00 % 7,557,312 Solano Vista - Series A 2018 Vallejo, CA 1/1/2036 5.85 % 2,631,168 Southpark (1) 2009 Austin, TX 12/1/2049 6.13 % 12,495,000 Summerhill - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 6,199,861 Sycamore Walk - Series A (4) 2015 Bakersfield, CA 1/1/2033 5.25 % 3,428,986 The Palms at Premier Park Apartments (2) 2013 Columbia, SC 1/1/2050 6.25 % 18,137,042 Tyler Park Townhomes (2) 2013 Greenfield, CA 1/1/2030 5.75 % 5,616,043 The Village at Madera - Series A (4) 2016 Madera, CA 12/1/2033 5.00 % 2,977,825 Village at Avalon (5) 2018 Albuquerque, NM 1/1/2059 5.80 % 15,942,559 Village at River's Edge (4) 2017 Columbia, SC 6/1/2033 6.00 % 9,649,659 Vineyard Gardens - Series A (6) 2017 Oxnard, CA 1/1/2035 5.50 % 3,908,104 Westside Village Market (2) 2013 Shafter, CA 1/1/2030 5.75 % 3,670,075 Willow Run (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,282,000 $ 771,014,252 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a secured financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a secured financing transaction, Note 15 Property Name Year Acquired Location Maturity Date Base Interest Rate Pr

Governmental Issuer Loans

Governmental Issuer Loans	12 Months Ended
Governmental Issuer Loans	Dec. 31, 2022
Governmental Issuer Loans [Abstract]
Governmental Issuer Loans	7. Governmental Issuer Loans The Partnership invests in GILs that are issued by state or local governmental authorities to finance the construction of affordable multifamily properties. The Partnership expects and believes the interest earned on the GILs is excludable from gross income for federal income tax purposes. The GILs do not constitute an obligation of any government, agency or authority and no government, agency or authority is liable for them, nor is the taxing power of any state government pledged to the payment of principal or interest on the GILs. Each GIL is secured by a mortgage on all real and personal property of the affordable multifamily property. The GILs share first mortgage lien positions with property loans and/or taxable GILs owned by the Partnership (Notes 10 and 12). Sources of the funds to pay principal and interest on a GIL consist of the net cash flow or the sale or refinancing proceeds from the secured property and limited-to-full payment guaranties provided by affiliates of the borrower. The Partnership has committed to provide total funding for certain GILs on a draw-down basis during construction. All GILs were held in trust in connection with TOB trust financings as of December 31, 2022 and 2021 (Note 15). At the closing of each GIL, Freddie Mac, through a servicer, has forward committed to purchase the GIL at maturity at par if the property has reached stabilization and other conditions are met. The Partnership had the following GIL investments as of December 31, 2022 and 2021: As of December 31, 2022 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 7/1/2023 SIFMA + 3.10 % 6.76 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 2.25 % 5.91 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 6.41 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 7.37 % 34,620,000 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 7.37 % 24,450,000 Hope on Avalon January 2021 Los Angeles, CA 88 8/1/2023 SIFMA + 3.75 % 7.41 % 23,390,000 Hope on Broadway January 2021 Los Angeles, CA 49 8/1/2023 SIFMA + 3.75 % 7.41 % 12,105,623 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 6.88 % 39,893,040 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 7.11 % 17,354,472 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 7.66 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 7,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 4,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 8,550,000 2,419 $ 300,230,435 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. As of December 31, 2021 Property Name Month Property Units Maturity (1) Variable Interest (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 3.20 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 3.25 % (4) 3.75 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 3.25 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 3.57 % 33,120,605 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 3.57 % 21,550,584 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 4.60 % 9,981,200 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 4.60 % 3,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 3.57 % 6,372,030 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 3.55 % 2,971,786 1,832 $ 184,767,450 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). (4) The variable rate decreases to SIFMA plus 2.25 % upon completion of construction. Two entities that are affiliates of certain GIL borrowers have provided limited-to-full payment guaranties for GILs with total outstanding principal of $ 223.4 million and for property loans with total outstanding principal of $ 123.8 million (Note 10). The guaranties relate to the Partnership’s investments in Scharbauer Flats Apartments, Oasis at Twin Lakes, Centennial Crossings, Legacy Commons at Signal Hills, Hilltop at Signal Hills, Osprey Village, and Willow Place Apartments. The Partnership has remaining commitments to provide additional funding of certain GILs during construction and/or rehabilitation of the secured properties as of December 31, 2022. See Note 18 for further information regarding the Partnership's GIL funding commitments. Activity in 2022 Acquisitions: During 2022, the Partnership entered into multiple GIL commitments to provide construction financing for the underlying properties on a draw-down basis as summarized below. • $ 20.4 million commitment related to Magnolia Heights; • $ 35.7 million commitment related to Poppy Grove I; • $ 22.3 million commitment related to Poppy Grove II; and • $ 39.1 million commitment related to Poppy Grove III. Activity in 2021 Acquisitions: During 2021, the Partnership entered into multiple GIL commitments to provide construction financing for the underlying properties on a draw-down basis as summarized below. • $ 34.6 million commitment related to Legacy Commons at Signal Hills; • $ 24.5 million commitment related to Hilltop at Signal Hills; • $ 23.4 million commitment related to Hope on Avalon; • $ 12.1 million commitment related to Hope on Broadway; • $ 60.0 million commitment related to Osprey Village; and • $ 25.0 million commitment related to Willow Place Apartments.

Real Estate Assets, net

Real Estate Assets, net	12 Months Ended
Real Estate Assets, net	Dec. 31, 2022
Real Estate [Abstract]
Real Estate Assets, net	8. Real Estate Assets, net The Partnership owns real estate assets, including MF Properties, either directly, through a wholly owned subsidiary, or through a consolidated VIE, as described in Note 2. The financial statements of the MF Properties are consolidated with those of the Partnership. The Partnership also invests in land with plans to develop into rental properties or for future sale. These investments are reported as “Land held for development” below. The following tables summarize information regarding the Partnership’s real estate assets as of December 31, 2022 and 2021: Real Estate Assets as of December 31, 2022 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,244 $ 39,799,082 $ 42,998,326 Vantage at San Marcos San Marcos, TX (1) 2,660,615 1,003,857 3,664,472 Land held for development (2) 1,551,196 - 1,551,196 $ 48,213,994 Less accumulated depreciation ( 11,663,516 ) Real estate assets, net $ 36,550,478 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Real Estate Assets as of December 31, 2021 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,268 $ 39,302,507 $ 42,501,775 The 50/50 MF Property Lincoln, NE 475 - 33,013,039 33,013,039 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 80,409,554 Less accumulated depreciation ( 20,701,922 ) Real estate assets, net $ 59,707,632 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. In December 2022, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The Partnership received an unsecured property loan upon sale (Note 10) payable from future net cash flows of the property. The buyer assumed two mortgages payable associated with the property and the Partnership agreed to provide certain recourse support for the assumed mortgages. The remainder of the purchase price was funded by the issuance of a seller financing property loan to the Partnership in the amount of $ 4.8 million (Note 10). As a result of the sale, the Partnership deconsolidated The 50/50 MF Property assets and liabilities in its consolidated financial statements. The Partnership incurred costs of approximately $ 404,000 related to the sale which reduced the Partnership's gain on sale. The Partnership has deferred its entire gain on sale of approximately $ 6.6 million which is reported within accounts payable, accrued expenses and other liabilities on the consolidated balance sheets. The Partnership will recognize the deferred gain upon collection of principal of the unsecured property loan (Note 13). In November 2021, the Partnership sold the land held for development in Gardner, KS and recognized a loss on the sale of $ 14,800 . Net loss, exclusive of the gains on sale, related to The 50/50 MF Property for the years ended December 31, 2022, and 2021 is as follows: For the Years Ended December 31, 2022 2021 Net loss $ 620,728 $ 335,423

Investments in Unconsolidated E

Investments in Unconsolidated Entities	12 Months Ended
Investments in Unconsolidated Entities	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	9. Investments in Unconsolidated Entities The Partnership has non-controlling investments in unconsolidated entities. The Partnership applies the equity method of accounting by initially recording these investments at cost, subsequently adjusted for accrued preferred returns, the Partnership’s share of earnings (losses) of the unconsolidated entities, cash contributions, and distributions. The carrying value of the equity investments represents the Partnership’s maximum exposure to loss. The Partnership is entitled to a preferred return on invested capital in each unconsolidated entity. An affiliate of the Vantage unconsolidated entities guarantees a preferred return on the Partnership’s investments through a date approximately five years after commencement of construction. The Partnership’s preferred return is reported as “Investment income” on the Partnership’s consolidated statements of operations. The following table provides the details of the investments in unconsolidated entities as of December 31, 2022 and 2021: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of December 31, 2022 Carrying Value as of December 31, 2021 Current Investments Vantage at Stone Creek Omaha, NE 294 March 2018 April 2020 $ 5,465,967 $ 6,143,099 Vantage at Coventry Omaha, NE 294 September 2018 February 2021 6,826,584 7,611,614 Vantage at Conroe Conroe, TX 288 April 2019 January 2021 10,424,625 11,164,625 Vantage at Tomball Tomball, TX 288 August 2020 April 2022 13,051,936 11,814,774 Vantage at Hutto Hutto, TX 288 December 2021 N/A 12,590,292 5,629,651 Vantage at Loveland Loveland, CO 288 April 2021 N/A 18,109,568 10,913,911 Vantage at Helotes Helotes, TX 288 May 2021 November 2022 14,029,032 11,350,686 Vantage at Fair Oaks Boerne, TX 288 September 2021 N/A 12,000,297 6,424,306 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 12,253,749 6,530,009 Freestone Greeley Greeley, CO 296 N/A N/A 4,775,708 - Freestone Cresta Bella San Antonio, TX 296 N/A N/A 6,263,083 - Subtotal 115,790,841 77,582,675 Sold Investments Vantage at Murfreesboro Murfreesboro, TN 288 September 2018 October 2020 $ - $ 12,240,000 Vantage at O'Connor San Antonio, TX 288 October 2019 June 2021 - 9,109,343 Vantage at Westover Hills San Antonio, TX 288 January 2020 July 2021 - 8,861,504 Subtotal - 30,210,847 $ 115,790,841 $ 107,793,522 The Partnership has remaining commitments to provide additional equity funding for certain unconsolidated entities as of December 31, 2022. See Note 18 for further details regarding the Partnership's remaining funding commitments. Activity in 2022 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during 2022: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Murfreesboro Murfreesboro, TN 288 March 2022 $ 29,399,532 $ 657,937 $ 16,501,596 Vantage at Westover Hills San Antonio, TX 288 May 2022 20,923,784 - 12,658,501 Vantage at Bulverde Bulverde, TX 288 (1) 60,000 - 60,000 Vantage at Germantown Germantown, TN 288 (2) 4,407 - 4,407 Vantage at O'Connor San Antonio, TX 288 July 2022 19,381,976 1,195 10,580,781 $ 69,769,699 $ 659,132 $ 39,805,285 (1) During 2022, the Partnership received net cash of approximately $ 60,000 associated with final settlements of the Vantage at Bulverde sale in August 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. (2) During 2022, the Partnership received cash of approximately $ 4 ,000 associated with final settlements of the Vantage at Germantown sale in March 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. New Equity Commitments: In October 2022, the Partnership executed a $ 16.0 million equity commitment to fund the construction of the Freestone Greeley multifamily property. In November 2022, the Partnership executed a $ 16.4 million equity commitment to fund the construction of the Freestone Cresta Bella multifamily property. Activity in 2021 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during 2021: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Germantown Germantown, TN 288 March 2021 $ 16,096,560 $ 862,454 $ 2,809,106 Vantage at Powdersville Powdersville, SC 288 May 2021 20,118,680 2,359,394 5,463,484 Vantage at Bulverde Bulverde, TX 288 August 2021 18,916,961 1,392,312 6,954,649 Vantage at Panama City Beach Panama City Beach, FL 288 (1) 293,510 - 293,510 $ 55,425,711 $ 4,614,160 $ 15,520,749 (1) In November 2021, the Partnership received cash of approximately $ 294 ,000 upon the resolution of gain contingencies related to the sale of Vantage at Panama New and Amended Equity Commitments: In April 2021, the Partnership executed a $ 16.3 million equity commitment to fund the construction of the Vantage at Loveland multifamily property. In May 2021, the Partnership executed a $ 12.6 million equity commitment to fund the construction of the Vantage at Helotes multifamily property. In September 2021, Vantage at Fair Oaks ceased to be a consolidated VIE (Note 5) and the Partnership executed an $ 11.0 million commitment to fund the construction of the property. In December 2021, the Partnership executed a $ 11.4 million equity commitment to fund the construction of the Vantage at McKinney Falls multifamily property. In December 2021, the Partnership increased its total equity commitment related to the Vantage at Hutto multifamily property from $ 10.5 million to $ 11.2 million. Summarized Unconsolidated Entity Level Financial Data The following table provides summary combined financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Property Revenues $ 22,048,926 $ 24,501,799 Gain on sale of property $ 87,602,712 $ 42,792,935 Net income $ 83,943,337 $ 37,836,191

Property Loans, Net

Property Loans, Net	12 Months Ended
Property Loans, Net	Dec. 31, 2022
Property Loans Net Of Loan Loss Allowance [Abstract]
Property Loans, Net	10. Property Loans, Net The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of December 31, 2022 and 2021: December 31, 2022 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 24,250,000 $ - $ 24,250,000 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 19,718,334 - 19,718,334 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 29,666,905 - 29,666,905 2/1/2024 SOFR + 3.07 % Magnolia Heights 6,188,601 - 6,188,601 7/1/2024 SOFR + 3.85 % Oasis at Twin Lakes 24,018,657 - 24,018,657 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 24,160,000 - 24,160,000 7/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 130,002,497 - 130,002,497 Mezzanine Financing SoLa Impact Opportunity Zone Fund $ 39,000,000 $ - $ 39,000,000 12/30/2024 7.875 % Subtotal 39,000,000 - 39,000,000 Other The 50/50 MF Property $ 4,803,620 $ - $ 4,803,620 3/11/2048 9.00 % Avistar (February 2013 portfolio) 201,972 - 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 6,602,214 ( 495,000 ) 6,107,214 Total $ 175,604,711 $ ( 495,000 ) $ 175,109,711 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. December 31, 2021 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 11,354,386 $ - $ 11,354,386 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 1,000,000 - 1,000,000 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 2,604,230 - 2,604,230 2/1/2024 SOFR + 3.07 % Oasis at Twin Lakes 20,607,362 - 20,607,362 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 9,708,598 - 9,708,598 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 47,274,576 - 47,274,576 Senior Acquisition Financing Magnolia Crossing $ 13,424,579 $ - $ 13,424,579 12/1/2022 SOFR + 6.50 % (2) Subtotal 13,424,579 - 13,424,579 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Cross Creek 11,101,887 ( 7,393,814 ) 3,708,073 12/1/2025 6.15 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 1,355,534 ( 1,355,534 ) - 7/31/2049 8.00 % Ohio Properties 2,390,446 - 2,390,446 12/1/2026 - 6/1/2050 10.00 % Subtotal 16,151,461 ( 8,749,348 ) 7,402,113 Total $ 76,850,616 $ ( 8,749,348 ) $ 68,101,268 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. (2) The index is subject to a floor of 0.25 %. The Partnership recognized a provision for loan loss and associated loan loss allowance of approximately $ 444,000 for the year ended December 31, 2021 related to the Live 929 Apartments property loan as the Partnership determined it was probable the outstanding balance will not be collectible. During the years ended December 31, 2022 and 2021, the interest to be earned on the Live 929 Apartments property loan was in nonaccrual status. The discounted cash flow method used by management to establish the net realizable value of the property loan determined the collection of the interest accrued was not probable. In addition, interest to be earned on the Cross Creek property loan and approximately $ 983,000 of property loan principal for the Ohio Properties was in nonaccrual status for the year ended December 31, 2021 as, in management’s opinion, the interest was not considered collectible. Activity in 2022 In January 2022, the Partnership received approximately $ 1.0 million of principal and interest due on the Live 929 Apartments property loan upon restructuring of the outstanding debt of Live 929 Apartments. The principal payment and related loan loss allowance were considered in the troubled debt restructuring of the Partnership’s investments in Live 929 Apartments discussed further in Note 6. In March 2022, the Ohio Properties property loans were repaid in full. The Partnership received approximately $ 2.4 million of principal and approximately $ 4.3 million of accrued interest upon redemption , of which $ 1.7 million was recognized in other interest income. In June 2022, concurrent with the acquisition of the Magnolia Heights GIL (Note 7), the Partnership committed $ 10.3 million to provide a property loan for the construction of the underlying property on a draw-down basis. The property loan and associated GIL are on parity and share a first mortgage position on all real and personal property associated with the secured property. In August 2022, the outstanding property loans due from Cross Creek were restructured and the Partnership advanced additional funds totaling approximately $ 7.7 million. In September 2022, the underlying Cross Creek property was sold and the Partnership received $ 13.0 million as redemption proceeds to satisfy all outstanding balances, which consisted of $ 11.4 million of principal payments and approximately $ 1.7 million of accrued interest. All property loan balances due from Cross Creek were previously on non-accrual status and fully reserved, so the Partnership recognized approximately $ 1.7 million of other interest income upon redemption. In September 2022, the Magnolia Crossing property loan was repaid in full. The Partnership received proceeds of approximately $ 14.1 million representing outstanding principal and accrued interest upon redemption. In December 2022, the Partnership provided a property loan to the SoLa Impact Opportunity Zone Fund in the amount of $ 39.0 million to finance the completion of construction on a portfolio of 26 affordable housing projects and one commercial/mixed use project located in Los Angeles, California. The projects contain 922 units in total. The loan is subordinate to the senior construction debt of the borrower and secured by a pledge of 100 % of the borrower’s ownership interests in the underlying properties. The property loan will be repaid from permanent financing proceeds upon completion of the affordable housing projects owned by the borrower. In December 2022, the Partnership received a property loan in exchange for the sale of its 100 % interest in The 50/50 MF Property in the amount of $ 4.8 million. The Partnership may advance additional principal on the property loan to fund capital expenditures or in other limited circumstances. See Note 8 for further information on the property sale. The property loan is unsecured, will be repaid from net cash flows of the property, and is subordinate to the mortgage debt of the property which was assumed by the buyer as described in Note 8. The property loan is in non-accrual status as of December 31, 2022 because payments under the loan are not required immediately and are expected to be paid from future net cash flows of the property as previously described in Note 8. Activity in 2021 Concurrent with the acquisition of GILs (Note 7), the Partnership committed to provide property loans for the construction of the underlying properties on a draw-down basis as summarized below. The property loans and associated GILs are on parity and share a first mortgage position on all real and personal property associated with the secured property. • $ 32.2 million commitment related to Legacy Commons at Signal Hills; • $ 21.2 million commitment related to Hilltop at Signal Hills; • $ 25.5 million commitment related to Osprey Village; and • $ 21.4 million related to Willow Place Apartments. In March 2021, the Partnership amended the secured property loan with Live 929 Apartments to increase the total available loan amount to $ 1.5 million from $ 1.0 million. The property loan is subordinate to the MRBs associated with the property. In August 2021, the Partnership received approximately $ 328,000 as payment in full for outstanding principal and interest on a property loan due from Arbors at Hickory Ridge. In Decembe r 2021, the Partnership entered into an agreement to provide a property loan in the amount of up to $ 14.5 million, secured by a first mortgage lien on Magnolia Crossing, an existing 65-unit skilled-nursing facility in Houston, Texas. The following table summarizes the changes in the Partnership’s loan loss allowance for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Balance, beginning of period $ 8,749,348 $ 8,305,046 Provision for loan loss - $ 444,302 Write-off (1) ( 7,393,815 ) Other reductions (2) ( 860,533 ) - Balance, end of period $ 495,000 $ 8,749,348 (1) The loan loss allowance write-off for the year ended December 31, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022. (2) The reduction in the loan loss allowance for the year ended December 31, 2022 is due to a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision

Income Tax Provision	12 Months Ended
Income Tax Provision	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Tax Provision	11. Income Tax Provision The Partnership recognizes current income tax expense for federal, state, and local income taxes incurred by the Greens Hold Co, which owned The 50/50 MF Property and certain property loans. The following table summarizes income tax expense (benefit) for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Current income tax expense (benefit) $ ( 6,138 ) $ 152,847 Deferred income tax expense (benefit) ( 45,056 ) ( 89,055 ) Total income tax expense (benefit) $ ( 51,194 ) $ 63,792 The Partnership’s income tax expense fluctuates from period to period based on the timing of the taxable income in the Greens Hold Co and the impact of deferred income taxes. Deferred income tax expense is generally a function of the period’s temporary differences (i.e. depreciation, amortization of finance costs, etc.). The deferred tax assets and liabilities are valued based on enacted tax rates. The Greens Hold Co had net deferred tax assets of approximately $ 666,000 and $ 621,000 as of December 31, 2022 and 2021, respectively. Substantially all of the deferred tax assets and liabilities relate to The 50/50 MF Property and will be realized along with the deferred gain on sale (Note 13). These amounts are reported within “Other assets” on the Partnership’s consolidated balance sheets. The Partnership evaluated whether it is more likely than not that its deferred income tax assets will be realizable and recorded no valuation allowance as of December 31, 2022 and 2021. For the years ended December 31, 2022 and 2021, income taxes computed by applying the U.S. federal statutory rates to income from continuing operations before income taxes for the Greens Hold Co differ from the provision for income taxes due to state income taxes (net of the effect on federal income tax). The Partnership accrues interest and penalties associated with uncertain tax positions as part of income tax expense. There were no material uncertain tax positions, accrued interest or penalties as of December 31, 2022 and 2021. The Partnership files U.S. federal and state tax returns. The Partnership’s returns for years 2019 through 2021 remain subject to examination by the Internal Revenue Service.

Other Assets

Other Assets	12 Months Ended
Other Assets	Dec. 31, 2022
Other Assets [Abstract]
Other Assets	12. Other Assets The following table summarizes the Partnership’s other assets as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Deferred financing costs, net $ 964,266 $ 1,349,097 Derivative instruments at fair value (Note 17) 7,530,438 343,418 Taxable mortgage revenue bonds, at fair value 16,531,896 3,428,443 Taxable governmental issuer loans 8,000,000 1,000,000 Bond purchase commitments, at fair value (Note 18) 98,929 964,404 Operating lease right-of-use assets, net - 1,619,714 Other assets 2,649,138 2,157,809 Total other assets $ 35,774,667 $ 10,862,885 As of December 31, 2021, the operating lease right-of-use assets consisted primarily of a ground lease at The 50/50 MF Property (Note 13). The ground lease was assumed by the buyer upon the sale of The 50/50 MF Property in December 2022 (Note 8) and the Partnership derecognized the operating lease right-of-use asset. The Partnership has remaining commitments to provide additional funding of the taxable GILs and taxable MRBs during construction and/or rehabilitation of the secured properties as of December 31, 2022. See Note 18 for further information regarding the Partnership’s remaining taxable GIL and taxable MRB funding commitments. See Note 23 for a description of the methodology and significant assumptions for determining the fair value of the derivative instruments, taxable MRBs and bond purchase commitments. Unrealized gains or losses on derivative instruments are reported as “Interest expense” on the Partnership’s consolidated statements of operations. Unrealized gains or losses on taxable MRBs and bond purchase commitments are recorded on the Partnership’s consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the assets. As of December 31, 2022, three taxable MRBs with a fair value of $ 9.0 million were held in trust in connection with TOB trust financings (Note 15). Activity in 2022 The following table includes details of the taxable MRBs and taxable GILs, that were acquired during the year ended December 31, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Taxable MRBs Live 929 Apartments - Series 2022B January 2022 Baltimore, MD 575 1/1/2029 4.30 % $ 3,625,000 Residency at the Entrepreneur - Series J-T (1) April 2022 Los Angeles, CA 200 4/1/2025 SOFR + 3.65 % 1,000,000 Park at Sondrio - Series 2022B December 2022 Greenville, SC 271 1/1/2030 6.50 % 1,100,000 Park at Vietti - Series 2022B December 2022 Spartanburg, SC 204 1/1/2030 6.50 % 880,000 Residency at Empire - Series BB-T (3) December 2022 Burbank, CA 148 12/1/2025 7.45 % 1,000,000 Subtotal $ 7,605,000 Taxable GILs Poppy Grove I (2) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % $ 1,000,000 Poppy Grove II (2) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 1,000,000 Poppy Grove III (2) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 1,000,000 Subtotal $ 3,000,000 (1) The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 % . (2) The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees. (3) The Partnership has committed to provide total funding for the taxable MRB of $ 9.4 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. Activity in 2021 The following table includes details of the taxable MRB and taxable GIL acquired during the year ended December 31, 2021: Property Name Date Committed Maturity Date Initial Principal Funding Total Commitment Hope on Avalon - taxable GIL January 2021 2/1/2023 (1) $ 1,000,000 $ 10,573,000 Residency at the Mayer Series A-T - taxable MRB October 2021 4/1/2024 (2) 1,000,000 12,500,000 $ 23,073,000 (1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. (2) The borrower may elect to extend the maturity date six months if stabilization has not occurred, subject to the Partnership's approval.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	12 Months Ended
Accounts Payable, Accrued Expenses and Other Liabilities	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	13. Accounts Payable, Accrued Expenses and Other Liabilities The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Accounts payable $ 1,244,918 $ 1,234,111 Accrued expenses 4,888,438 4,102,381 Accrued interest expense 7,186,021 4,229,119 Operating lease liabilities - 2,151,991 Deferred gain on sale of MF Property 6,596,622 - Other liabilities 1,817,507 1,946,610 Total accounts payable, accrued expenses and other liabilities $ 21,733,506 $ 13,664,212 As noted in Note 8, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The Partnership received an unsecured property loan upon sale (Note 10) payable from future net cash flows of the property. The Partnership has deferred the recognition of a gain on sale of $ 6.6 million which is equal to the difference between the fair value of consideration received less the net carrying value of the assets and liabilities transferred to the buyer. The Partnership will recognize the gain upon collection of the unsecured property loan principal from future property net cash flows. The 50/50 MF Property had a ground lease with the University of Nebraska-Lincoln with an initial lease term expiring in March 2048 . The ground lease was assumed by the buyer upon the sale of The 50/50 MF Property in December 2022 (Note 8) and the Partnership derecognized the operating lease liability. The Partnership recognized expenses related to the ground lease of approximately $ 162,000 and $ 168,000 for the years ended December 31, 2022 and 2021, respectively, and are reported within “Real estate operating expenses” on the Partnership’s consolidated statements of operations.

Secured Lines of Credit

Secured Lines of Credit	12 Months Ended
Secured Lines of Credit	Dec. 31, 2022
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Secured Lines of Credit	14. Secured Lines of Credit The following table summarizes the secured lines of credit as of December 31, 2022 and 2021: Secured Lines of Credit Outstanding as of December 31, 2022 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 7.42 % Bankers Trust Acquisition LOC 49,000,000 50,000,000 June 2024 (3) Variable (4) Monthly 6.68 % $ 55,500,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The secured credit agreement contains terms for selecting an alternative index if LIBOR is no longer available. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). Secured Lines of Credit Outstanding as of December 31, 2021 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 3.50 % Bankers Trust Acquisition LOC 39,214,000 50,000,000 June 2023 Variable (3) Monthly 3.10 % $ 45,714,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets. The Partnership has entered into a secured Credit Agreement (“Secured Credit Agreement”) of up to $ 40.0 million with BankUnited and Bankers Trust Company, and the sole lead arranger and administrative agent, BankUnited, for a general secured line of credit (the “General LOC”). The aggregate available commitment cannot exceed a borrowing base calculation, that is equal to 40 % multiplied by the aggregate value of a pool of eligible encumbered assets. Eligible encumbered assets consist of (i) the net book value of the Suites on Paseo MF Property, and (ii) 100 % of the Partnership’s capital contributions to certain equity investments, subject to certain restrictions. The proceeds of the General LOC will be used by the Partnership to purchase additional investments and to meet general working capital and liquidity requirements. The Partnership may borrow, prepay and reborrow amounts at any time through the maturity date, subject to the limitations of the borrowing base. The General LOC is secured by first priority security interests in the Partnership’s Vantage investments in unconsolidated entities, a mortgage and assignment of leases and rents of the Suites on Paseo MF Property, and a security interest in a bank account at BankUnited, in which the Partnership must maintain a balance of not less than $ 5.0 million. In addition, an affiliate of the Partnership, Greystone Select Incorporated (“Greystone Select”), has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement. Greystone Select is subject to certain covenants and was in compliance with such covenants as of December 31, 2022. No fees were paid to Greystone Select related to the deficiency guaranty agreement. The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $ 5 million, maintain a minimum consolidated tangible net worth of $ 100.0 million, and to notify BankUnited if the Partnership’s consolidated net worth declines by (a) more than 20 % from the immediately preceding quarter, or (b) more than 35 % from the date at the end of two consecutive calendar quarters ending immediately thereafter. The Partnership was in compliance with all covenants as of December 31, 2022. In addition, the Partnership and Bankers Trust Company have entered into an amended and restated credit agreement for a secured non-operating line of credit (the “Acquisition LOC”) with a maximum commitment of up to $ 50.0 million. The Acquisition LOC may be used to fund purchases of multifamily real estate, tax-exempt or taxable MRBs, and tax-exempt or taxable loans issued to finance the acquisition, rehabilitation, or construction of affordable housing or which are otherwise secured by real estate or mortgage-backed securities (collectively, the “financed assets”). The financed assets acquired with the proceeds of the Acquisition LOC will be held in a custody account and the outstanding balances of the Acquisition LOC will be secured by a first priority interest in the financed assets and will be maintained in the custody account until released by Bankers Trust Company. Advances on the Acquisition LOC are due on the 270th day following the advance date but may be extended for up to three additional 90-day periods , but in no event later than the maturity date by providing Bankers Trust Company with a written request for such extension together with a principal payment of 5 % of the principal amount of the original acquisition advance for the first such extension, 10 % for the second such extension, and 20 % for the third such extension. In July 2022, the Partnership executed an amendment to the credit agreement that extended the maturity date to June 2024; provided the Partnership two one-year extension options, subject to certain terms and conditions; removed certain restricted payment provisions; modified the covenant requiring senior debt to not exceed a specified percentage of the market value of the Partnership’s assets to be consistent with the Leverage Ratio (as defined by the Partnership) and increased the threshold percentage; modified certain notification provisions regarding defaults under agreements with other creditors; added certain events of default that are consistent with the Partnership’s other secured financing arrangements; and eliminated the Partnership’s ability to finance purchases of existing or to-be-constructed multifamily property improvements under the credit agreement. In addition, certain interest rate terms were modified. The Partnership was in compliance with all covenants as of December 31, 2022. Outstanding balances on the Acquisition LOC as of December 31, 2022 were repaid in January 2023.

Debt Financing

Debt Financing	12 Months Ended
Debt Financing	Dec. 31, 2022
Debt Financing [Abstract]
Debt Financing	15. Debt Financing The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of December 31, 2022 and 2021: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 75,570,121 $ 4,999 2024 Variable Yes 3.69 % 1.55 % 5.24 % M24 TEBS 7,489,619 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 29,549,954 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 211,914,923 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 324,524,617 4.08 % Secured Notes $ 102,488,160 35,979,743 2025 Variable No N/A N/A 13.05 % (5) TOB Trust Securitizations Mizuho Capital Markets: Montevista - Series A $ 5,650,044 (6) 2023 Variable Yes 3.86 % 1.27 % 5.13 % Trust 2020-XF2908 (7) 43,472,232 (6) 2023 Variable No 4.57 % 0.89 % 5.46 % Hope on Avalon GIL 18,695,484 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Hope on Broadway GIL 9,670,809 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Ocotillo Springs - Series A 9,978,639 (6) 2023 Variable Yes 3.86 % 0.91 % 4.77 % Jackson Manor Apartments 5,859,141 (6) 2023 Variable Yes 3.88 % 1.29 % 5.17 % Trust 2021-XF2926 (8) 70,402,736 (6) 2024 Variable No 4.57 % 0.89 % 5.46 % Trust 2021-XF2939 (9) 7,341,558 (6) 2024 Variable No 4.57 % 1.16 % 5.73 % Scharbauer Flats GIL 36,000,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Oasis at Twin Lakes GIL 30,600,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Centennial Crossing GIL 29,772,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Residency at the Mayer - Series A 21,450,000 (6) 2024 Variable Yes 3.86 % 1.19 % 5.05 % Montecito at Williams Ranch - Series A 6,872,074 (6) 2025 Variable Yes 3.62 % 1.17 % 4.79 % Vineyard Gardens - Series A 3,592,692 (6) 2025 Variable Yes 3.67 % 1.17 % 4.84 % The Park at Sondrio - Series 2022A 30,354,275 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % The Park at Vietti - Series 2022A 21,489,569 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % Avistar at Copperfield - Series A 11,501,641 (6) 2025 Variable Yes 3.80 % 1.67 % 5.47 % Avistar at Wilcrest - Series A 4,350,640 (6) 2025 Variable Yes 3.88 % 1.67 % 5.55 % Residency at the Entrepreneur MRBs 16,513,817 (6) 2025 Variable No 4.57 % 1.18 % 5.75 % Legacy Commons at Signal Hills & Hilltop at Signal Hills GILs 53,160,000 (6) 2025 Variable Yes 3.88 % 0.91 % 4.79 % Osprey Village GIL 32,905,000 (6) 2025 Variable Yes 3.88 % 1.19 % 5.07 % Avistar at Wood Hollow - Series A 33,092,580 (6) 2027 Variable Yes 3.88 % 1.44 % 5.32 % Live 929 53,092,000 (6) 2027 Variable Yes 3.88 % 1.18 % 5.06 % Barclays Capital Inc.: Trust 2021-XF2953 (10) 46,548,777 - 2023 Variable No 4.42 % 1.27 % 5.69 % Poppy Grove I GIL 6,258,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove II GIL 3,614,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove III GIL 6,821,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Subtotal/Weighed Average Period End Rate 619,060,166 5.19 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,831,009 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,058,903,952 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.25 % plus SOFR which resets monthly. The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.80 % as of December 31, 2022. See Note 17 for further information on the total return swap. (6) The Partnership has restricted cash totaling approximately $ 38,000 related to its total net position with Mizuho Capital Markets. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan, Hilltop at Signal Hills property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer taxable MRB, Ocotillo Springs taxable MRB, and Osprey Village property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) 76,964,051 4,999 2024 Variable Yes 0.13 % 1.32 % 1.45 % M24 TEBS $ 35,551,762 $ 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 30,191,051 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 213,931,752 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 356,638,616 3.19 % Secured Notes 102,798,158 77,531,264 2025 Variable N/A N/A N/A 9.20 % (5) TOB Trust Securitizations Mizuho Capital Markets: Ocotillo Springs - Series A 13,482,312 - 2022 Variable Yes 0.23 % 0.89 % 1.12 % Live 929 Apartments - Series A $ 31,564,286 - 2023 Variable Yes 0.23 % 1.66 % 1.89 % Montecito at Williams Ranch - Series A 6,919,404 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Montevista - Series A 5,674,091 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Vineyard Gardens - Series A 3,590,598 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Avistar at Copperfield - Series A 11,617,039 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wilcrest - Series A 4,392,032 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wood Hollow - Series A 33,446,044 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Gateway Village 2,177,527 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Lynnhaven Apartments 2,891,534 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Trust 2020-XF2907 (6) 96,297,732 - 2023 Variable No 0.18 % 0.89 % 1.07 % Trust 2020-XF2908 (7) 18,845,580 - 2023 Variable No 0.18 % 0.89 % 1.07 % Hope on Avalon GIL 7,931,925 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Hope on Broadway GIL 2,919,748 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Jackson Manor Apartments 4,133,705 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Trust 2021-XF2926 (8) 71,519,933 - 2024 Variable No 0.18 % 0.89 % 1.07 % Trust 2021-XF2939 (9) 27,183,562 - 2024 Variable No 0.18 % 1.16 % 1.34 % Barclays Capital Inc.: Trust 2021-XF-2953 (10) 3,139,698 - 2022 Variable No 0.14 % 1.27 % 1.41 % Subtotal/Weighed Average Period End Rate 347,726,750 1.35 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,915,190 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 820,078,714 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.00 % plus LIBOR which resets monthly. The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps. (6) The TOB trust is securitized by the Scharbauer Flats Apartments, Oasis at Twin Lakes, and Centennial Crossings GILs. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, the Hilltop at Signal Hills GIL and property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer MRB and taxable MRB, the Ocotillo Springs taxable MRB, and the Osprey Village GIL and property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan. The TOB, term TOB and TEBS financing arrangements are consolidated VIEs of the Partnership (Note 5). The Partnership is the primary beneficiary due to its rights to the underlying assets. Accordingly, the Partnership consolidates the TOB, term TOB and TEBS financings on the Partnership's consolidated financial statements. See information regarding the MRBs, GILs, property loans, taxable MRBs and taxable GILs securitized within the TOB, term TOB and TEBS financings in Notes 6, 7, 10 and 12, respectively. As the residual interest holder in the arrangements, the Partnership may be required to make certain payments or contribute certain assets to the VIEs if certain events occur. Such events include, but are not limited to, a downgrade in the investment rating of the senior securities issued by the VIEs, a ratings downgrade of the liquidity provider for the VIEs, increases in short term interest rates beyond pre-set maximums, an inability to re-market the senior securities, or an inability to obtain liquidity for the senior securities. If such an event occurs in an individual VIE, the Partnership may be required to deleverage the VIE by repurchasing some or all of the senior securities. Otherwise, the underlying collateral will be sold and, if the proceeds are not sufficient to pay the principal amount of the senior securities plus accrued interest and other trust expenses, the Partnership will be required to fund any such shortfall. If the Partnership does not fund the shortfall, the default and liquidation provisions will be invoked against the Partnership. The shortfall on each TEBS financing is limited to the Partnership’s residual interest. The Partnership has never been, and does not expect in the future, to be required to reimburse the VIEs for any shortfall. The Partnership’s variable rate debt financing arrangements include maximum interest rate provisions that prevent the debt service on the debt financings from exceeding the cash flows from the underlying securitized assets. Tax Exempt Bond Securitization (“TEBS”) Financings The Partnership, through four wholly owned subsidiaries (collectively, the “TEBS Sponsors”), has sponsored four separate TEBS financings – the M24 TEBS financing, the M31 TEBS financing, the M33 TEBS financing, and the M45 TEBS financing (collectively, the “TEBS financings”). The TEBS financings are structured such that the Partnership transferred MRBs to Freddie Mac to be securitized into the TEBS financings. Freddie Mac then issued Class A and Class B Freddie Mac Multifamily Variable Rate Certificates or Class A and Class B Freddie Mac Multifamily Fixed Rate Certificates (collectively, the “TEBS Certificates”), which represent beneficial interests in the securitized assets. The Class A TEBS Certificates are senior securities that are sold to unaffiliated investors and entitle the holders to cash flows from the securitized assets. The Class A TEBS Certificates are credit enhanced by Freddie Mac such that Freddie Mac will cover any shortfall if the cash flows from the securitized assets are less than the contractual principal and interest due to the Class A TEBS Certificate holders. The TEBS Sponsors or Partnership would then be required to reimburse Freddie Mac for any credit enhancement payments. The Class B TEBS Certificates are residual interests retained by the TEBS Sponsors and grant the Partnership rights to certain cash flows from the securitized assets after payment to the Class A Certificates and related facility fees, as well as certain other rights to the securitized assets. The TEBS financings are non-recourse financing to the Partnership and the maximum exposure to loss is the value of the Class B Certificates, before consideration of the Partnership’s total return swap. The M31 TEBS financing includes maximum interest rate provisions that prevent the debt service from exceeding the cash flows from the underlying securitized assets. As of December 31, 2022 and 2021, the Partnership posted restricted cash as contractually required under the terms of the four TEBS financings. In addition, the Partnership has entered into an interest rate cap agreement to mitigate its exposure to interest rate fluctuations on the variable-rate M31 TEBS financing (Note 17). Secured Notes Financing (“Secured Notes”) ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, has issued Secured Notes to Mizuho with an initial aggregate principal amount of $ 103.5 million. The Secured Notes are secured by the Partnership’s residual certificates associated with its four TEBS financings. The Secured Notes bear interest at a variable rate equal to SOFR plus 9.25 % , payable monthly. Interest due on the Secured Notes will be paid from receipts related to the four TEBS financing residual certificates. Future receipts of principal related to the four TEBS financing residual certificates will be used to pay down the principal of the Secured Notes. The Partnership has guaranteed the payment and performance of the responsibilities of ATAX TEBS Holdings, LLC under the Secured Notes. If ATAX TEBS Holdings, LLC defaults on its obligations under the Secured Notes and the Partnership does not cure the default, the Partnership’s four TEBS financing residual certificates and their related rights to the underlying TEBS assets will be assigned to Mizuho. If this occurs, the Partnership will cease to be the primary beneficiary of the TEBS financing VIEs and such VIEs will no longer be consolidated in the Partnership’s consolidated financial statements. Concurrent with the issuance of the Secured Notes, the Partnership entered into two total return swap transactions with Mizuho to reduce the net interest cost related to the Secured Notes (Note 17). The Secured Notes are non-recourse obligations of the Partnership, though there is recourse to the Partnership for any valuation shortfalls under the related total return swap. The total return swap is a position subject to the Partnership’s overall net mark-to-market determination under the Mizuho ISDA master agreement discussed below. The restricted cash associated with the Secured Notes is collateral posted with Mizuho according to the terms of the total return swap that has the Secured Notes as the reference security (Note 17). TOB and Term TOB Trust Financings The Partnership has entered into various TOB trust financings with Mizuho and Barclays secured by various investment assets. The TOB trust structures under Mizuho and Barclays are functionally similar. Under these TOB trust financings, the trustee issues senior securities and residual interests that represent beneficial interests in the TOB trust that entitle the holders to cash flows from the securitized assets within the TOB trust. The senior securities are sold to unaffiliated investors and entitle the holder to cash flows from the securitized assets at a variable interest rate. The senior securities are credit enhanced by Mizuho or Barclays such that Mizuho or Barclays will cover any shortfall if the cash flows from the securitized assets are less than the contractual principal and interest due to the senior security holders. The Partnership will then be required to reimburse Mizuho or Barclays for any credit enhancement payments. The residual interests are retained by the Partnership and grant the Partnership rights to certain cash flows from the securitized assets after payment to the senior securities and related trust fees, as well as certain other rights to the securitized assets. The TOB trust financings are generally recourse obligations of the partnership under the respective ISDA master agreements discussed below. The TOB trust financings include maximum interest rate provisions that prevent the debt service on the debt financings from exceeding the cash flows from the underlying securitized assets. Mizuho Capital Markets The TOB trusts and Secured Notes with Mizuho are subject to an ISDA master agreement that contains certain covenants and requirements related to the Partnership’s TOB trusts and Secured Notes. The TOB trusts require that Partnership’s residual interests must maintain a certain value in relation to the total assets in each TOB trust. The ISDA master agreement with Mizuho requires the Partnership’s partners’ capital, as defined, to maintain a certain threshold and that the Partnership remain listed on a national securities exchange. If the Partnership is not in compliance with any of these covenants, a termination event of the financing facility would be triggered. The Partnership was in compliance with these covenants as of December 31, 2022.The Partnership is subject to mark-to-market collateral posting provision for positions under the ISDA master agreement with Mizuho. The amount of collateral posting required is dependent on the valuation of the securitized assets and interest rate swaps (Note 17) in relation to thresholds set by Mizuho at the initiation of each transaction. As of December 31, 2022, the Partnership had posted all required cash collateral totaling $ 36.0 million related to the Secured Notes total return swap. Barclays Bank PLC The TOB trusts with Barclays are subject to an ISDA master agreement that contains certain covenants and requirements related to the Partnership’s TOB trusts. The Partnership’s residual interests in the TOB trusts must maintain a certain value in relation to the total assets in the TOB trust. The ISDA master agreement with Barclays requires the Partnership’s partners’ capital, as defined, to maintain a certain threshold, limits on the Partnership’s Leverage Ratio (as defined by the Partnership) and that the Partnership remained listed on a national securities exchange. If the Partnership is not in compliance with any of these covenants, a termination event of the financing facility would be triggered. The Partnership was in compliance with these covenants as of December 31, 2022. The Partnership may also be required to post collateral, typically in cash, related to the TOB trusts with Barclays. The amount of collateral posting required is dependent on the valuation of the securitized assets in relation to thresholds set by Barclays at the initiation of each transaction. There was no requirement to post collateral for the TOB trusts as of December 31, 2022. Morgan Stanley Bank The Partnership has entered into a term TOB trust financing with Morgan Stanley Bank, N.A. (“Morgan Stanley”) secured by an MRB. Under the term TOB trust structure, the trustee issued Class A Certificates and Class B Certificates that represent beneficial interests in the securitized asset held by the term TOB trust. Morgan Stanley has purchased the Class A Certificates that are senior securities, and the Partnership has retained the Class B Certificates that are residual interests in the Trust. The Class B Certificates grant the Partnership certain rights to the securitized asset. The term TOB trust with Morgan Stanley is subject to a Trust Agreement and other related agreements that contain covenants with which the Partnership or the underlying MRB are required to comply. The underlying property must maintain certain occupancy and debt service covenants. A termination event will occur if the Partnership’s net assets, as defined, decrease by 25 % in one quarter or 35 % over one year. The covenants also require the Partnership’s partners’ capital, as defined, to maintain a certain threshold and that the Partnership remains listed on a nationally recognized stock exchange. If the underlying property or the Partnership, as applicable, is out of compliance with any of these covenants, a termination event of the financing facility would be triggered. The Partnership was in compliance with all covenants as of December 31, 2022. Contractual Maturities The Partnership’s contractual maturities of borrowings for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: 2023 $ 162,790,816 2024 294,026,151 2025 286,713,546 2026 3,992,863 2027 88,291,325 Thereafter 225,691,693 Total 1,061,506,394 Unamortized deferred financing costs and debt premium ( 2,602,442 ) Total debt financing, net $ 1,058,903,952

Mortgages Payable and Other Sec

Mortgages Payable and Other Secured Financing	12 Months Ended
Mortgages Payable and Other Secured Financing	Dec. 31, 2022
Mortgages Payable [Abstract]
Mortgages Payable and Other Secured Financing	16. Mortgages Payable and Other Secured Financing The Partnership has entered into mortgages payable and other secured financings collateralized by MF Properties. The following is a summary of the mortgages payable and other secured financing, net of deferred financing costs, as of December 31, 2022 and 2021: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End The 50/50 MF Property--TIF Loan $ - $ 2,174,453 2020 March 2025 Fixed n/a The 50/50 MF Property--Mortgage - 22,960,090 2020 April 2027 Fixed n/a Vantage at San Marcos--Mortgage (1) 1,690,000 1,690,000 2020 November 2023 Variable 8.25 % Total Mortgage Payable\Weighted $ 1,690,000 $ 26,824,543 8.25 % (1) The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5). In December 2022, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The purchaser assumed the TIF Loan and Mortgage associated with the property and the Partnership agreed to provide certain recourse support for the assumed mortgages. See Note 8 for further information.

Derivative Instruments

Derivative Instruments	12 Months Ended
Derivative Instruments	Dec. 31, 2022
Interest Rate Derivatives [Abstract]
Derivative Instruments	17. Derivative Instruments The Partnership’s derivative instruments are not designated as hedging instruments and are recorded at fair value. Changes in fair value are included in current period earnings as “Interest expense” in the Partnership's consolidated statements of operations. The value of the Partnership’ interest rate swaps are subject to mark-to-market collateral posting provisions in conjunction with the Partnership’s ISDA master agreement with Mizuho (Note 15). See Note 23 for a description of the methodology and significant assumptions for determining the fair value of the derivatives. The derivative instruments are presented within “Other assets” in the Partnership's consolidated balance sheets. Interest Rate Swap Agreements During 2022, the Partnership entered into multiple interest rate swap agreements to mitigate interest rate risk associated with the variable rate TOB trust financings (Note 15). No fees were paid to Mizuho upon closing of the interest rate swaps. The following table summarizes the Partnership's interest rate swap agreements as of December 31, 2022: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Period End Variable Rate Received Variable Rate Index Variable Debt (1) Counterparty Fair Value as of February 2022 55,990,000 2/9/2022 2/1/2024 1.40 % 4.09 % Compounded SOFR TOB Trusts Mizuho Capital Markets $ 2,205,130 March 2022 47,850,000 3/3/2022 3/1/2027 1.65 % 4.09 % Compounded SOFR TOB Trusts Mizuho Capital Markets 4,048,961 October 2022 34,436,088 (2) 4/1/2023 4/1/2025 3.92 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 131,427 December 2022 10,880,000 (3) 1/1/2023 12/1/2029 3.27 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 370,342 December 2022 45,500,000 1/3/2023 1/1/2030 3.47 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 443,339 194,656,088 $ 7,199,199 (1) See Notes 15 and 23 for additional details . (2) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million. (3) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 47.8 million. Total Return Swap Agreements The following table summarizes the terms of the Partnership’s total return swaps as of December 31, 2022 and 2021: Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of December 2022 102,690,670 December 2022 Sept 2025 7.80 % (1) 13.05 % (2) SOFR Mizuho Capital Markets $ 239,612 $ 239,612 (1) Variable rate equal to SOFR + 4.00 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to SOFR + 9.25 %. Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 39,607,744 September 2020 Sept 2025 4.25 % (1) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets $ 77,061 September 2020 63,500,000 September 2020 Mar 2022 1.00 % (2) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets 215,267 $ 292,328 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to a floor of 4.25 % . (2) Variable rate equal to 3-month LIBOR + 0.50 %, subject to a floor of 1.00 %. (3) Variable rate equal to 3-month LIBOR + 9.00 % . The total return swap has the Partnership’s Secured Notes with Mizuho as the specified reference security (Note 15), with the total return swap notional amount equal to the outstanding principal on the Secured Notes. The rate received on the total return swap is equal to the interest rate on the Secured Notes such that they offset one another, resulting in a net interest cost equal to the rate paid under the total return swap. Under the total return swap, the Partnership is liable for any decline in the value of the Secured Notes under the ISDA master agreement with Mizuho, when netted with the value of Partnership’s other positions with Mizuho. The Partnership was required to initially fund cash collateral with Mizuho for each total return swap. The total return swap with a notional amount of $ 102.7 million , requires the Partnership to maintain cash collateral equal to 35 % of the notional amount. The second total return swap, which was terminated in March 2022, required the Partnership to maintain cash collateral equal to 100 % of the notional amount. In March 2022, the Partnership allocated the notional amount of $ 63.5 million from the second total return swap to the first total return swap which resulted in an increase in unrestricted cash of approximately $ 41.3 million. In December 2022, the Partnership amended certain terms associated with the remaining total return swap, including an update in the variable rate index from 3-month LIBOR to SOFR. There were no fees associated with the amendment. Interest Rate Cap Agreement The Partnership has entered into an interest rate cap agreement to mitigate exposure to interest rate risk associated with variable-rate debt financing facilities. The following tables summarize the Partnership’s interest rate cap agreement as of December 31, 2022 and 2021: Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 75,014,903 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 91,627 $ 91,627 (1) See Notes 15 and 23 for additional details. Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 76,544,336 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 51,090 $ 51,090 (1) See Notes 15 and 23 for additional details .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies Legal Proceedings The Partnership, from time to time, is subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are frequently covered by insurance. If it has been determined that a loss is probable to occur and the amount of the loss can be reasonably estimated, the estimated amount of the loss is accrued in the Partnership's consolidated financial statements. If the Partnership determines that a loss is reasonably possible, the Partnership will, if material, disclose the nature of the loss contingency and the estimated range of possible loss, or include a statement that no estimate of loss can be made. While the resolution of these matters cannot be predicted with certainty, the Partnership currently believes there are no pending legal proceedings in which the Partnership is currently involved the outcome of which will have a material effect on the Partnership’s financial condition, results of operations, or cash flows. Bond Purchase Commitments The Partnership may enter into bond purchase commitments related to MRBs to be issued and secured by properties under construction. Upon execution of the bond purchase commitment, the proceeds from the MRBs will be used to pay off the construction related debt. The Partnership bears no construction or stabilization risk during the commitment period. The Partnership accounts for its bond purchase commitments as available-for-sale securities and reports the asset or liability at fair value. Changes in the fair value of bond purchase commitments are recorded as gains or losses on the Partnership's consolidated statements of comprehensive income (loss). The following table summarizes the Partnership’s bond purchase commitments as of December 31, 2022: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of CCBA Senior Garden Apartments July 2020 $ - 4.50 % June 2022 (1) $ - $ 495,784 Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 98,929 468,620 $ 3,900,000 $ 98,929 $ 964,404 (1) The closing date is actual. Investment Commitments The Partnership has remaining commitments to provide additional funding of certain MRBs, taxable MRBs, GILs, taxable GILs, and property loans while the secured properties are under construction or rehabilitation. The Partnership has outstanding commitments to contribute additional equity to unconsolidated entities. The following table summarizes the Partnership's total and remaining commitments as of December 31, 2022: Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Residency at the Mayer - Series A October 2021 April 2039 SOFR + 3.60 % $ 29,500,000 $ 3,500,000 Meadow Valley December 2021 December 2029 6.25 % 44,000,000 39,276,563 Residency at the Entrepreneur- Series J-3 April 2022 March 2040 6.00 % 26,080,000 22,180,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 16,420,000 Residency at Empire - Series BB-3 December 2022 December 2040 6.45 % (4) 14,000,000 13,945,000 Residency at Empire - Series BB-4 December 2022 December 2040 6.45 % (5) 47,000,000 47,000,000 Subtotal 177,000,000 142,321,563 Taxable Mortgage Revenue Bonds Residency at the Mayer Series A-T October 2021 April 2024 (3) SOFR + 3.70 % $ 12,500,000 $ 11,500,000 Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % 13,000,000 12,000,000 Residency at Empire - Series BB-T December 2022 December 2025 (3) 7.45 % 9,404,500 8,404,500 Subtotal 34,904,500 31,904,500 Governmental Issuer Loans Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 60,000,000 20,106,960 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 25,000,000 7,645,528 Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 27,842,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 17,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 30,569,507 Subtotal 182,057,835 103,873,023 Taxable Governmental Issuer Loans Hope on Avalon January 2021 August 2023 SOFR + 3.55 % $ 10,573,000 $ 5,573,000 Poppy Grove I September 2022 April 2025 (3) 6.78 % 21,157,672 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 67,152,465 59,152,465 Property Loans Oasis at Twin Lakes July 2020 August 2023 (3) LIBOR + 2.50 % $ 27,704,180 $ 3,685,523 Hilltop at Signal Hills January 2021 August 2023 (3) SOFR + 3.07 % 21,197,939 1,479,605 Legacy Commons at Signal Hills January 2021 February 2024 (3) SOFR + 3.07 % 32,233,972 2,567,067 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 25,500,000 24,500,000 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 21,351,328 20,351,328 Magnolia Heights June 2022 July 2024 (3) SOFR + 3.85 % 10,300,000 4,111,399 Subtotal 138,287,419 56,694,922 Equity Investments Vantage at San Marcos (6), (7) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Freestone Greeley (7) October 2022 N/A N/A 16,035,710 11,325,008 Freestone Cresta Bella (7) November 2022 N/A N/A 16,405,514 10,204,191 Subtotal 42,355,753 30,473,113 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (8) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 645,657,972 $ 428,319,586 (1) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) Beginning December 2029 , the interest rate will change to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. (5) Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. (6) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 5). (7) A development site has been identified for this property but construction had not commenced as of December 31, 2022. (8) This is the estimated closing date of the associated bond purchase commitment. Construction Loan Guaranties The Partnership entered into guaranty agreements for bridge loans related to certain investments in unconsolidated entities. The Partnership will only have to perform on the guaranties if a default by the borrower were to occur. The Partnership has not accrued any amount for these contingent liabilities because the Partnership believes the likelihood of guaranty claims is remote. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of December 31, 2022: Borrower Guaranty Maturity Maximum Balance Loan Partnership's Maximum Exposure Guaranty Vantage at Stone Creek 2023 $ 34,222,000 $ 34,222,000 $ 17,111,000 (1) Vantage at Coventry 2023 34,536,000 34,536,000 17,268,000 (1) (1) The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of December 31, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term. Other Guaranties and Commitments The Partnership has entered into guaranty agreements with unaffiliated entities under which the Partnership has guaranteed certain obligations of the general partners of certain limited partnerships upon the occurrence of a “repurchase event.” Potential repurchase events include LIHTC tax credit recapture and foreclosure. The Partnership’s maximum exposure is limited to 75 % of the equity contributed by the limited partner to each limited partnership. No amount has been accrued for these guaranties because the likelihood of repurchase events is remote. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of December 31, 2022: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 2,310,609 Greens of Pine Glen, LP 2027 1,662,397 In December 2022, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The buyer assumed two mortgages payable associated with the property and the Partnership agreed to provide certain recourse support for the assumed mortgages. The TIF Loan support is in the form of a payment guaranty. The Mortgage support is in the form of a forward loan purchase agreement upon maturity of the Mortgage. The estimated fair value of the credit guaranties as of the commitment date totaled approximately $ 363,000 and is included within other liabilities in the Partnership's consolidated financial statements. No additional contingent liability has been accrued because the likelihood of claims is remote. The following table summarizes the Partnership’s maximum exposure under these credit guaranties as of December 31, 2022: Borrower End of Guaranty Period Partnership's Maximum Exposure The 50/50 MF Property--TIF Loan 2025 $ 1,809,510 The 50/50 MF Property--Mortgage 2027 22,419,849

Redeemable Preferred Units

Redeemable Preferred Units	12 Months Ended
Redeemable Preferred Units	Dec. 31, 2022
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Units	19. Redeemable Preferred Units The Partnership has designated three series of non-cumulative, non-voting, non-convertible Preferred Units that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The Partnership previously issued Series A Preferred Units via a private placement to five financial institutions. In April 2022 and October 2022, the Partnership issued Series A-1 Preferred Units in exchange for previously issued Series A Preferred Units. These Series A-1 Preferred Units were issued in a registered offering pursuant to a registration statement on Form S-4, which was declared effective by the Securities and Exchange Commission (the “Commission”) on July 6, 2021, and subsequently amended pursuant to a Post-Effective Amendment to the Form S-4, which was declared effective by the Commission on April 13, 2022. The Partnership had not issued any Series B Preferred Units as of December 31, 2022. The Preferred Units have no stated maturity, are not subject to any sinking fund requirements, and will remain outstanding indefinitely unless redeemed by the Partnership or by the holder. Upon the sixth anniversary of the closing of the sale or issuance of Series A Preferred Units or Series A-1 Preferred Units to a subscriber, and upon each anniversary thereafter, the Partnership and each holder have the right to redeem, in whole or in part, the Series A Preferred Units or Series A-1 Preferred Units held by such holder at a per unit redemption price equal to $ 10.00 per unit, plus an amount equal to all declared and unpaid distributions through the date of the redemption. Each holder desiring to exercise its redemption rights must provide written notice of its intent to so exercise no less than 180 calendar days prior to any such redemption date. Upon the eighth anniversary of the closing of the sale or issuance of Series B Preferred Units to a subscriber, and upon each anniversary thereafter, the Partnership and each holder have the right to redeem, in whole or in part, the Series B Preferred Units held by such holder at a per unit redemption price equal to $ 10.00 per unit, plus an amount equal to all declared and unpaid distributions through the date of the redemption. Each holder desiring to exercise its redemption rights must provide written notice of its intent to so exercise no less than 180 calendar days prior to any such redemption date. In the event of any liquidation, dissolution, or winding up of the Partnership, the holders of the Series A Preferred Units, Series A-1 Preferred Units and Series B Preferred Units are entitled to a liquidation preference in connection with their investments. With respect to anticipated quarterly distributions and rights upon liquidation, dissolution, or the winding-up of the Partnership’s affairs, the Series A Preferred Units and Series A-1 Preferred Units will rank: (a) senior to the Partnership's BUCs, the Series B Preferred Units, and to any other class or series of Partnership interests or securities expressly designated as ranking junior to the Series A Preferred Units or Series A-1 Preferred Units; (b) junior to the Partnership's existing indebtedness (including indebtedness outstanding under the Partnership's senior bank credit facility) and other liabilities with respect to assets available to satisfy claims against the Partnership; and (c) junior to any other class or series of Partnership interests or securities expressly designated as ranking senior to the Series A Preferred Units or Series A-1 Preferred Units. The Series B Preferred Units will rank: (a) senior to the BUCs and to any other class or series of Partnership interests or securities that is not expressly designated as ranking senior or on parity with the Series B Preferred Units; (b) junior to the Series A Preferred Units and Series A-1 Preferred Units and to each other class or series of Partnership interests or securities with terms expressly made senior to the Series B Preferred Units; and (c) junior to all the Partnership's existing indebtedness (including indebtedness outstanding under the Partnership's senior bank credit facility) and other liabilities with respect to assets available to satisfy claims against the Partnership. The following table summarizes the outstanding Preferred Units as of December 31, 2022 and 2021: December 31, 2022 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2024 (1) December 2016 700,000 7,000,000 3.00 % 10.00 December 2023 (1) March 2017 1,000,000 10,000,000 3.00 % 10.00 March 2024 (1) August 2017 2,000,000 20,000,000 3.00 % 10.00 August 2023 (2) October 2017 1,750,000 17,500,000 3.00 % 10.00 October 2023 Total Series A Preferred Units 6,450,000 64,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % 10.00 April 2028 October 2022 1,000,000 10,000,000 3.00 % 10.00 October 2028 Total Series A-1 Preferred Units 3,000,000 30,000,000 Redeemable Preferred Units 9,450,000 $ 94,500,000 (1) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. (2) In February 2023, the holder provided notice of its intent to redeem its Series A Preferred Units in August 2023. December 31, 2021 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 May 2016 1,386,900 13,869,000 3.00 % 10.00 September 2016 1,000,000 10,000,000 3.00 % 10.00 December 2016 700,000 7,000,000 3.00 % 10.00 March 2017 1,613,100 16,131,000 3.00 % 10.00 August 2017 2,000,000 20,000,000 3.00 % 10.00 October 2017 1,750,000 17,500,000 3.00 % 10.00 Redeemable Preferred Units 9,450,000 $ 94,500,000

Issuances of Beneficial Unit Ce

Issuances of Beneficial Unit Certificates	12 Months Ended
Issuances of Beneficial Unit Certificates	Dec. 31, 2022
Issuances Of Beneficial Unit Certificates [Abstract]
Issuances of Beneficial Unit Certificates	20. Issuances of Beneficial Unit Certificates In December 2022, the Partnership’s Registration Statement on Form S-3 (“Registration Statement”) was declared effective by the SEC under which the Partnership may offer up to $ 300.0 million of additional BUCs, Preferred Units or debt securities for sale from time to time. The Registration Statement will expire in December 2025 . In July 2021, the Partnership entered into a Capital on Demand TM Sales Agreement to offer and sell, from time to time at market prices on the date of sale, BUCs up to an aggregate offering price of $ 30.0 million via an “at the market offering.” The Partnership had no t sold any BUCs under this program as of December 31, 2022. In September 2021, the Partnership completed an underwritten public offering of 5,462,500 BUCs. The offering resulted in net cash proceeds of approximately $ 31.2 million for the Partnership, after the payment of underwriting discounts, commissions and offering expenses.

Restricted Unit Awards

Restricted Unit Awards	12 Months Ended
Restricted Unit Awards	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Restricted Unit Awards	21. Restricted Unit Awards The Partnership’s Plan permits the grant of restricted units and other awards to the employees of Greystone Manager, the Partnership, or any affiliate of either, and members of the Board of Managers of Greystone Manager for up to 1.0 million BUCs. As of December 31, 2022, there were approximately 478,000 restricted units and other awards available for future issuance. The number of BUCs with respect to which awards may be granted under the Plan, the number of BUCs subject to outstanding awards granted under the Plan, and the grant price with respect to any such awards were retroactively adjusted to account for the Reverse Unit Split on a one-for-three basis. RUAs have historically been granted with vesting conditions ranging from three months to up to three years . Unvested RUAs are typically entitled to receive distributions during the restriction period. The Plan provides for accelerated vesting of the RUAs if there is a change in control related to the Partnership, the General Partner, or the general partner of the General Partner, or upon death or disability of the Plan participant. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The compensation expense for RUAs totaled approximately $ 1.5 million and $ 1.3 million for the years ended December 31, 2022 and 2021, respectively. Compensation expense is reported within “General and administrative expenses” on the Partnership’s consolidated statements of operations. The following table summarizes the RUA activity for years ended December 31, 2022 and 2021 (all amounts are presented giving effect to the one-for-three Reverse Unit Split which became effective on April 1, 2022): Restricted Units Weighted average Unvested as of January 1, 2021 44,271 $ 14.94 Granted 88,775 19.47 Vested ( 55,523 ) 17.67 Unvested as of December 31, 2021 77,523 18.18 Granted 96,321 19.33 Vested ( 81,073 ) 18.26 Forfeited ( 5,437 ) 18.76 Unvested as of December 31, 2022 87,334 $ 19.33 The unrecognized compensation expense related to unvested RUAs granted under the Plan was $ 1.1 million as of December 31, 2022. The remaining compensation expense is expected to be recognized over a weighted average period of 1.3 years. The total intrinsic value of unvested RUAs was approximately $ 1.5 million as of December 31, 2022.

Transactions with Related Parti

Transactions with Related Parties	12 Months Ended
Transactions with Related Parties	Dec. 31, 2022
Related Party Transactions [Abstract]
Transactions with Related Parties	22. Transactions with Related Parties The Partnership is managed by AFCA 2, which is controlled by AFCA 2’s general partner, Greystone Manager. The Board of Managers of Greystone Manager act as managers (and effectively as the directors) of the Partnership and certain employees of Greystone Manager are executive officers of the Partnership. Certain services are provided to the Partnership by employees of Greystone Manager and the Partnership reimburses Greystone Manager for its allocated share of these salaries and benefits. The Partnership also reimburses Greystone Manager for its share of general and administrative expenses. These reimbursed costs represent a substantial portion of the Partnership’s general and administrative expenses. The amounts in the following table represent amounts reimbursable to AFCA 2, the general partner of AFCA 2, or an affiliate for the years ended December 31, 2022 and 2021 and are reported within “General and administrative expenses” in the Partnership’s consolidated statements of operations: 2022 2021 Reimbursable salaries and benefits $ 5,763,496 $ 4,866,841 Other expenses 77,383 50,712 Office expenses 269,722 250,785 Insurance 515,245 408,688 Professional fees and expenses 181,821 105,500 Consulting and travel expenses 19,381 - $ 6,827,048 $ 5,682,526 The Partnership incurs costs for services and makes contractual payments to AFCA 2, AFCA 2’s general partner, and their affiliates. The costs are reported either as expenses or capitalized costs depending on the nature of each item. The following table summarizes transactions with related parties that are reflected on the Partnership’s consolidated financial statements for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Partnership administrative fees paid to AFCA 2 (1) $ 5,200,000 $ 4,046,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 328,000 156,000 Referral fees paid to an affiliate (3) 240,607 224,750 (1) AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2023, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond origination costs that are deferred and amortized as a yield adjustment to the related investment asset. AFCA 2 receives fees from the borrowers and sponsors of the Partnership’s investment assets for services provided to the borrower and based on the occurrence of certain investment transactions. These fees were paid by the borrowers or sponsors and are not reported in the Partnership’s consolidated financial statements. The following table summarizes transactions between borrowers of the Partnership’s affiliates for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Non-Partnership property administrative fees received by AFCA 2 (1) $ 26,000 $ 35,000 Investment/mortgage placement fees earned by AFCA 2 (2) 5,487,000 7,311,000 (1) AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. (2) AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities. Greystone Servicing Company LLC, an affiliate of the Partnership, has forward committed to purchase 11 of the Partnership’s GILs (Note 7), once certain conditions are met, at a price equal to the outstanding principal plus accrued interest. Greystone Servicing Company LLC is committed to then immediately sell the GILs to Freddie Mac pursuant to a financing commitment between Greystone Servicing Company LLC and Freddie Mac. Greystone Select, an affiliate of the Partnership, has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement related to the Partnership’s General LOC (Note 14). The guaranty is enforceable if an event of default occurs, the administrative agent takes certain actions in relation to the collateral and the amounts due under the Secured Credit Agreement are not collected within a certain period of time after the commencement of such actions. No fees were paid to Greystone Select related to the deficiency guaranty agreement. Greystone Property Management Corporation, an affiliate of the Partnership, provides property management services to two MRB properties. These property management fees are paid out of the revenues generated by the respective property prior to the payment of debt service on the Partnership's MRBs. The Partnership reported receivables due from unconsolidated entities of approximately $ 325,000 and $ 149,000 as of December 31, 2022 and 2021, respectively. These amounts are reported within “Other assets” on the Partnership’s consolidated balance sheets. The Partnership had outstanding liabilities due to related parties totaling approximately $ 654,000 and $ 417,000 as of December 31, 2022 and 2021, respectively. These amounts are reported within “Accounts payable, accrued expenses and other liabilities” on the Partnership’s consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2022
Fair Value Measurements [Abstract]
Fair Value of Financial Instruments	23. Fair Value of Financial Instruments Current accounting guidance on fair value measurements establishes a framework for measuring fair value and provides for expanded disclosures about fair value measurements. The guidance: • Defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date; and • Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. To increase consistency and comparability in fair value measurements and related disclosures, the fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of the hierarchy are defined as follows: • Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 - inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 - inputs are unobservable inputs for assets or liabilities. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for the assets and liabilities measured at fair value on a recurring basis. Investments in MRBs, Taxable MRBs and Bond Purchase Commitments The fair value of the Partnership’s investments in MRBs, taxable MRBs, and bond purchase commitments as of December 31, 2022 and 2021, is based upon prices obtained from third-party pricing services, which are estimates of market prices. There is no active trading market for these securities, and price quotes for the securities are not available. The valuation methodology of the Partnership’s third-party pricing services incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each security as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, illiquidity, legal structure of the borrower, collateral, seniority to other obligations, operating results of the underlying property, geographic location, and property quality. These characteristics are used to estimate an effective yield for each security. The security fair value is estimated using a discounted cash flow and yield to maturity or call analysis by applying the effective yield to contractual cash flows. Significant increases (decreases) in the effective yield would have resulted in a significantly lower (higher) fair value estimate. Changes in fair value due to an increase or decrease in the effective yield do not impact the Partnership’s cash flows. The Partnership evaluates pricing data received from the third-party pricing services by evaluating consistency with information from either the third-party pricing services or public sources. The fair value estimates of the MRBs, taxable MRBs and bond purchase commitments are based largely on unobservable inputs believed to be used by market participants and requires the use of judgment on the part of the third-party pricing services and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments are categorized as Level 3 assets. The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of December 31, 2022 and 2021 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Mortgage revenue bonds 2.6 % - 20.3 % 0.9 % - 19.1 % 5.1 % 3.1 % Taxable mortgage revenue bonds 6.5 % - 11.4 % 4.0 % - 8.1 % 7.6 % 5.9 % Bond purchase commitments 4.5 % 3.2 % - 3.3 % 4.5 % 3.2 % (1) Weighted by the total principal outstanding of all the respective securities as of the reporting date . Derivative Instruments The effect of the Partnership’s interest rate swap agreements is to change a variable rate debt obligation to a fixed rate for that portion of the debt equal to the notional amount of the agreement. The Partnership uses a third-party pricing service that incorporates commonly used market pricing methods. The fair value is based on a model that considers observable indices and observable market trades for similar arrangements and therefore the interest rate swaps are categorized as Level 2 assets or liabilities. The effect of the Partnership’s interest rate cap is to set a cap, or upper limit, subject to performance of the counterparty, on the base rate of interest paid on the Partnership’s variable rate debt financings equal to the notional amount of the derivative agreement. The Partnership uses a third-party pricing service and the inputs in the interest rate cap agreements valuation model include three-month LIBOR rates, unobservable adjustments to account for the SIFMA index, as well as any recent interest rate cap trades with similar terms. The fair value is based on a model with inputs that are not observable and therefore the interest rate cap is categorized as a Level 3 asset. The effect of the Partnership’s total return swap is to lower the net interest rate related to the Partnership’s Secured Notes equal to the notional amount of the derivative instruments. The Partnership uses a third-party pricing service and the inputs in the total return swap valuation model include changes in the value of the Secured Notes and the associated changes in value of the underlying assets securing the Secured Notes, accrued and unpaid interest, and any potential gain share amounts. The fair value is based on a model with inputs that are not observable and therefore the total return swaps are categorized as Level 3 assets or liabilities. Assets measured at fair value on a recurring basis as of December 31, 2022 are summarized as follows: Fair Value Measurements as of December 31, 2022 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 763,208,945 $ - $ - $ 763,208,945 Mortgage revenue bonds 36,199,059 - - 36,199,059 Bond purchase commitments (reported within other assets) 98,929 - - 98,929 Taxable mortgage revenue bonds (reported within other assets) 16,531,896 - - 16,531,896 Derivative financial instruments (reported within other assets) 7,530,438 - 7,199,198 331,240 Total Assets at Fair Value, net $ 823,569,267 $ - $ 7,199,198 $ 816,370,069 The following table summarizes the activity related to Level 3 assets and liabilities for the year ended December 31, 2022: For the Year ended December 31, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance January 1, 2022 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 1,958,135 - ( 20,028 ) 5,756,111 7,694,218 Included in other comprehensive income ( 68,890,753 ) ( 865,475 ) ( 535,793 ) - ( 70,292,021 ) Purchases 182,726,187 - 13,669,857 - 196,396,044 Settlements ( 109,034,876 ) - ( 10,583 ) ( 5,768,289 ) ( 114,813,748 ) Other (2) ( 860,533 ) - - - ( 860,533 ) Ending Balance December 31, 2022 $ 799,408,004 $ 98,929 $ 16,531,896 $ 331,240 $ 816,370,069 Total amount of gains for the $ 57,124 $ - $ - $ 40,538 $ 97,662 (1) Mortgage revenue bonds include both bonds held in trust as well as those held by the Partnership. (2) The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10) . Assets measured at fair value on a recurring basis as of December 31, 2021 are summarized as follows: Fair Value Measurements as of December 31, 2021 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 750,934,848 $ - $ - $ 750,934,848 Mortgage revenue bonds 42,574,996 - - 42,574,996 Bond purchase commitments (reported within other assets) 964,404 964,404 Taxable mortgage revenue bonds (reported within other assets) 3,428,443 - - 3,428,443 Derivative instruments (reported within other assets) 343,418 - - 343,418 Total Assets at Fair Value, net $ 798,246,109 $ - $ - $ 798,246,109 The following table summarizes the activity related to Level 3 assets and liabilities for the year ended December 31, 2021: For the Years Ended December 31, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance January 1, 2021 $ 794,432,485 $ 431,879 $ 1,510,437 $ 321,503 $ 796,696,304 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 137,520 - - 7,126,226 7,263,746 Included in earnings (provision for credit loss) ( 1,856,893 ) - - - ( 1,856,893 ) Included in other comprehensive income ( 19,013,953 ) 532,525 ( 72,319 ) - ( 18,553,747 ) Purchases 69,672,500 - 2,000,000 - 71,672,500 Settlements ( 49,861,815 ) - ( 9,675 ) ( 7,104,311 ) ( 56,975,801 ) Ending Balance December 31, 2021 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total amount of losses for the $ ( 1,856,893 ) $ - $ - $ 23,214 $ ( 1,833,679 ) (1) Mortgage revenue bonds include both bonds held in trust as well as those held by the Partnership. Total gains and losses included in earnings for the derivative instruments are reported within “Interest expense” in the Partnership’s consolidated statements of operations. As of December 31, 2022 and 2021, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s GILs, taxable GILs, and construction financing property loans that share a first mortgage lien with the GILs, which is an estimate of their market price. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of the GILs and property loans as well as other quantitative and qualitative characteristics including, but not limited to, the progress of construction and operations of the underlying properties, and the financial capacity of guarantors. The valuation methodology also considers the probability that conditions for the execution of forward commitments to purchase the GILs will be met. Due to the judgments involved, the fair value measurements of the Partnership’s GILs, taxable GILs, and construction financing property loans are categorized as Level 3 assets. The estimated fair value of the GILs and taxable GILs was $ 305.0 million and $ 6.8 million as of December 31, 2022, respectively. The estimated fair value of the GILs and taxable GIL approximated amortized cost as of December 31, 2021. The fair value of the construction financing property loans approximated amortized cost as of December 31, 2022 and 2021. As of December 31, 2022 and 2021, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s financial liabilities, which are estimates of market prices. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each financial liability as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, legal structure, seniority to other obligations, operating results of the underlying assets, and asset quality. The financial liability values are then estimated using a discounted cash flow and yield to maturity or call analysis. The Partnership evaluates pricing data received from the third-party pricing service, including consideration of current market interest rates, quantitative and qualitative characteristics of the underlying collateral, and other information from either the third-party pricing service or public sources. The fair value estimates of these financial liabilities are based largely on unobservable inputs believed to be used by market participants and require the use of judgment on the part of the third-party pricing service and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s financial liabilities are categorized as Level 3 liabilities. The TEBS financings are credit enhanced by Freddie Mac. The TOB trust financings are credit enhanced by either Mizuho or Barclays. The table below summarizes the fair value of the Partnership’s financial liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 1,058,903,952 $ 1,059,674,409 $ 820,078,714 $ 854,428,834 Secured lines of credit 55,500,000 55,500,000 45,714,000 45,714,000 Mortgages payable and other secured financing 1,690,000 1,690,000 26,824,543 26,825,840

Segments

Segments	12 Months Ended
Segments	Dec. 31, 2022
Segment Reporting [Abstract]
Segments	24. Segments As of December 31, 2022, the Partnership had four reportable segments: (1) Affordable Multifamily MRB Investments, (2) Seniors and Skilled Nursing MRB Investments, (3) MF Properties, and (4) Market-Rate Joint Venture Investments. The Partnership separately reports its consolidation and elimination information because it does not allocate certain items to the segments. Affordable Multifamily MRB Investments Segment The Affordable Multifamily MRB Investments segment consists of the Partnership’s portfolio of MRBs, GILs and related property loans that have been issued to provide construction and/or permanent financing for multifamily residential and commercial properties in their market areas. Such MRBs and GILs are held as investments and the related property loans, net of loan loss allowances, are reported as such on the Partnership’s consolidated balance sheets. As of December 31, 2022, the Partnership reported 76 MRBs and 13 GILs in this segment. As of December 31, 2022, the multifamily residential properties securing the MRBs and GILs contain a total of 10,822 and 2,419 multifamily rental units, respectively. In addition, one MRB (Provision Center 2014-1) was collateralized by commercial real estate prior to a sale of the underlying real estate in July 2022 (Note 6). All “General and administrative expenses” on the Partnership’s consolidated statements of operations are reported within this segment. Seniors and Skilled Nursing MRB Investments Segment The Seniors and Skilled Nursing MRB Investments segment consists of an MRB and a property loan that have been issued to provide acquisition, construction and/or permanent financing for seniors housing and skilled nursing properties. The property loan was redeemed in September 2022. Seniors housing consists of a combination of the independent living, assisted living and memory care units. As of December 31, 2022, the property securing the MRB contains a total of 154 seniors housing units. Market-Rate Joint Venture Investments Segment The Market-Rate Joint Venture Investments segment consists of the operations of ATAX Vantage Holdings, LLC and ATAX Freestone Holdings, LLC, which make noncontrolling investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily properties (Note 9). The Market-Rate Joint Venture Investments segment also includes the consolidated VIE of Vantage at San Marcos (Note 5). MF Properties Segment The MF Properties segment consists primarily of a student housing residential property held by the Partnership (Note 8). During the time the Partnership holds an interest in an MF Property, any excess cash flow will be available for distribution to the Partnership. As of December 31, 2022, the Partnership owned one MF Property containing a total of 384 rental units. Income tax expense for the Greens Hold Co is reported within this segment. The following table details certain financial information for the Partnership’s reportable segments for the year ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Total revenues Affordable Multifamily MRB Investments $ 63,374,549 $ 46,198,552 Seniors and Skilled Nursing MRB Investments 713,036 77,979 Market-Rate Joint Venture Investments 9,130,486 14,967,102 MF Properties 7,855,506 7,208,661 Total revenues $ 81,073,577 $ 68,452,294 Interest expense Affordable Multifamily MRB Investments $ 28,544,715 $ 20,382,143 Seniors and Skilled Nursing MRB Investments 5,750 - Market-Rate Joint Venture Investments 870,497 428,018 MF Properties 1,043,489 1,133,724 Total interest expense $ 30,464,451 $ 21,943,885 Depreciation expense Affordable Multifamily MRB Investments $ 23,846 $ 23,495 Seniors and Skilled Nursing MRB Investments - - Market-Rate Joint Venture Investments - - MF Properties 2,693,569 2,709,427 Total depreciation expense $ 2,717,415 $ 2,732,922 Net income (loss) Affordable Multifamily MRB Investments $ 17,330,756 $ 8,619,813 Seniors and Skilled Nursing MRB Investments 704,994 72,020 Market-Rate Joint Venture Investments 48,054,241 30,055,826 MF Properties ( 527,825 ) ( 648,171 ) Net income $ 65,562,166 $ 38,099,488 The following table details total assets for the Partnership’s reportable segments as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Total assets Affordable Multifamily MRB Investments $ 1,520,609,550 $ 1,304,626,248 Seniors and Skilled Nursing MRB Investments 3,551,307 13,533,020 Market-Rate Joint Venture Investments 120,089,351 112,052,513 MF Properties 41,699,828 66,501,994 Consolidation/eliminations ( 118,820,471 ) ( 110,804,292 ) Total assets $ 1,567,129,565 $ 1,385,909,483

Summary of Unaudited Quarterly

Summary of Unaudited Quarterly Results of Operations	12 Months Ended
Summary of Unaudited Quarterly Results of Operations	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Summary of Unaudited Quarterly Results of Operations	25. Summary of Unaudited Quarterly Results of Operations 2022 March 31, June 30, September 30, December 31, Total revenues $ 19,206,371 $ 17,232,967 $ 22,604,404 $ 22,029,835 Other income - gains 16,439,750 12,643,501 10,580,781 141,253 Income from continuing operations 26,264,018 17,606,681 18,516,593 3,174,874 Net income $ 26,264,018 $ 17,606,681 $ 18,516,593 $ 3,174,874 Income from continuing operations, per BUC $ 1.01 $ 0.74 $ 0.78 $ 0.09 Net income, basic and diluted, per BUC $ 1.01 $ 0.74 $ 0.78 $ 0.09 2021 March 31, June 30, September 30, December 31, Total revenues $ 14,387,488 $ 16,406,496 $ 17,681,901 $ 19,976,409 Other income - gains and loss, net 2,809,106 5,463,484 6,954,649 278,710 Income from continuing operations 6,992,854 10,264,680 12,988,384 7,853,570 Net income $ 6,992,854 $ 10,264,680 $ 12,988,384 $ 7,853,570 Income from continuing operations, per BUC $ 0.27 $ 0.39 $ 0.56 $ 0.31 Net income, basic and diluted, per BUC $ 0.27 $ 0.39 $ 0.56 $ 0.31

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	26. Subsequent Events In January 2023, Vantage at Stone Creek and Vantage at Coventry, at the direction of the respective managing members, sold substantially all their assets to an unrelated third party and ceased operations. The Partnership received net cash of approximately $ 27.7 million, inclusive of the return of its contributed equity. The Partnership will recognize a gain on sale of approximately $ 15.2 million, before settlement of final proceeds and expenses, in the first quarter of 2023. In January 2023, the Partnership originated MRB and taxable MRB investments secured by Windsor Shores Apartments and The Ivy Apartments. The Partnership paid a referral fee to an affiliate of Greystone of approximately $ 76,000 related to The Ivy MRB origination. The following table summarizes the terms of the Partnership’s MRB and taxable MRB investments: Property Name Month Property Location Units Maturity Date Interest Rate Principal Funded Windsor Shores Apartments - MRB January Columbia, SC 176 2/1/2030 6.50 % $ 21,545,000 Windsor Shores Apartments - taxable MRB January Columbia, SC 176 2/1/2030 6.50 % 805,000 The Ivy Apartments - MRB January Greenville, SC 212 2/1/2030 6.50 % 30,500,000 $ 52,850,000 In January and February 2023, the Partnership entered into four TOB trust financing arrangements with Mizuho. The TOB trust financings allow for additional borrowings as the Partnership makes additional advances for the related funding commitments, if applicable. A portion of the proceeds was used to repay the outstanding balance on the Partnership’s Acquisition LOC. The following table summarizes the securitized assets and the initial terms of the TOB trust financings: TOB Trusts Securitization TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Remarketing Senior Securities Rate Facility Fees Interest Rate Residency at Empire MRBs $ 14,400,000 January 2026 Variable Yes 3.38 % 1.42 % 4.80 % Windsor Shores Apartments MRB 17,236,000 January 2026 Variable Yes 2.11 % 1.44 % 3.55 % SoLa Impact Opportunity Zone Fund loan 27,300,000 December 2024 Variable No 4.57 % 1.78 % 6.35 % The Ivy Apartments MRB 24,400,000 February 2028 Variable Yes 3.99 % 1.44 % 5.43 % Total TOB Trust Financing $ 83,336,000 In January 2023, the Partnership entered into two additional interest rate swap agreements to mitigate interest rate risk associated with the variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreements: Purchase Date Notional Amount Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty January 2023 $ 12,065,200 1/19/2023 1/1/2030 3.354 % Compounded SOFR TOB Trusts Mizuho Capital Markets January 2023 $ 8,027,600 2/1/2023 2/1/2030 3.289 % Compounded SOFR TOB Trusts Mizuho Capital Markets In Januar y 2023, the Partnership received $ 3.7 million of initial redemption proceeds related to the Provision Center 2014-1 MRB with the remaining proceeds to be received at final liquidation. In January 2023, the borrowers of the Hope on Broadway GIL, Hope on Avalon GIL, and Hope on Avalon taxable GIL extended the maturity dates from February 2023 to August 2023 . There were no additional changes to terms associated with the extensions. In February 2023, the Partnership issued 700,000 Series A-1 Preferred Units to a financial institution in exchange for 700,000 outstanding Series A Preferred Units held by that institution. There were no net proceeds to the Partnership as a result of the exchange transaction. These Series A-1 Preferred Units were issued in a registered offering pursuant to a registration statement on Form S-4, which was declared effective by the Commission on July 6, 2021, and subsequently amended pursuant to a Post-Effective Amendment to the Form S-4, which was declared effective by the Commission on April 13, 2022. In February 2023, the Partnership issued 800,000 Series A-1 Preferred Units to a financial institution in exchange for gross proceeds of $ 8.0 million. These Series A-1 Preferred Units were issued in a registered offering pursuant to a registration statement on Form S-3, which was declared effective by the Commission on September 9, 2021, and subsequently amended pursuant to a Post-Effective Amendment to the Form S-3, which was declared effective by the Commission on April 13, 2022. In February 2023, the Partnership received notice from a holder of 2,000,000 Series A Preferred Units of its intent to redeem all its Series A Preferred Units in the amount of $ 20.0 million. The redemption is scheduled to occur in August 2023 . In February 2023, the Partnership executed a $ 8.2 million equity commitment for Valage Senior Living Carson Valley, a to-be-constructed seniors housing property in Minden, NV. In February 2023, the following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest: Property Name Month Property Location Units Original Interest Rate Principal Greens Property - Series A February 2023 Durham, NC 168 10/1/2047 6.50 % $ 7,579,000 Greens Property - Series B February 2023 Durham, NC 168 10/1/2047 12.00 % $ 914,040 $ 8,493,040 In addition to the MRBs redeemed above, the Partnership’s Greens property loan was repaid in full. The Partnership received approximately $ 850,000 o f principal and approximately $ 1.6 million of accrued interest upon repayment. All principal proceeds from the redemption of the Greens Property - Series A MRB were used to paydown principal on the M31 TEBS financing facility. In February 2023, the Partnership executed an amendment to its total return swap with Mizuho to reduce the required cash collateral amount from 35 % to 30 % of the notional amount. There were no additional changes to terms or fees associated with the amendment of the total return swap.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation	Consolidation The “Partnership,” as used herein, includes Greystone Housing Impact Investors LP, its consolidated subsidiaries and consolidated variable interest entities (Note 5). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 Tax-Exempt Bond Securitization (“TEBS”) Financing (“M24 TEBS Financing”) with the Federal Home Loan Mortgage Corporation (“Freddie Mac”); • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the “M31 TEBS Financing” with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership created to hold MRBs to facilitate the “M33 TEBS Financing” with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership created to hold MRBs to facilitate the “M45 TEBS Financing” with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which has issued secured notes (“the Secured Notes”) to Mizuho Capital Markets LLC (“Mizuho”); • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Freestone Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • One wholly owned corporation (“the Greens Hold Co”), which owned 100 % of The 50/50 MF Property, a real estate asset, and certain property loans; and • Lindo Paseo LLC, a wholly owned limited liability company, which owns 100 % of the Suites on Paseo MF Property. The Partnership also consolidates variable interest entities (“VIEs”) in which the Partnership is deemed to be the primary beneficiary.
Use of Estimates in Preparation of Consolidated Financial Statements	Use of Estimates in Preparation of Consolidated Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in determining: (i) the fair value of MRBs and taxable MRBs; (ii) investment impairments; (iii) impairment of real estate assets; and (iv) allowances for loan losses.
Risks and Uncertainties	Risks and Uncertainties The Federal Reserve announced seven increases in short-term interest rates totaling 425 basis points during 2022 and an additional 25 basis point increase in February 2023. The Federal Reserve has signaled further future short-term interest rate increases to combat inflation in the broader economy. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have caused volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly those with fixed interest rates. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The current inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s investments and general operations, which may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Higher general and administrative expenses of the Partnership and real estate operating expenses of the MF Properties may adversely affect the Partnership’s operating results, including a reduction in net income. Furthermore, the potential for an economic recession either globally or locally in the U.S. or other economies could further impact the valuation of our investment assets, limit the Partnership’s ability to obtain additional debt financing from lenders, and limit opportunities for additional investments.
Variable Interest Entities	Variable Interest Entities Under the accounting guidance for consolidation, the Partnership evaluates entities in which it holds a variable interest to determine if the entities are VIEs and if the Partnership is the primary beneficiary. The entity that is deemed to have: (1) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance; and (2) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE, is considered the primary beneficiary. If the Partnership is deemed to be the primary beneficiary, then it will consolidate the VIEs in its consolidated financial statements. The Partnership has consolidated all VIEs in which it has determined it is the primary beneficiary. In the Partnership’s consolidated financial statements, all transactions and accounts between the Partnership and the consolidated VIEs have been eliminated in consolidation. The Partnership re-evaluates its accounting for VIEs at each reporting date based on events and circumstances at the VIEs. As a result, changes to the consolidated VIEs may occur in the future based on changes in circumstances. The accounting guidance on consolidations is complex and requires significant analysis and judgment. The Partnership does not believe that the consolidation of VIEs for reporting under GAAP impacts its status as a partnership for federal income tax purposes or the status of Unitholders as partners of the Partnership. In addition, the consolidation of VIEs is not expected to impact the treatment of the MRBs, GILs and property loans owned by consolidated VIEs, the tax-exempt nature of the interest payments on secured debt financings, or the manner in which the Partnership’s income is reported to Unitholders on IRS Schedule K-1. Accounting for TOB, Term TOB, and TEBS Financing Arrangements The Partnership has evaluated the accounting guidance related to its TOB (“Tender Option Bond”), term TOB, and TEBS financings and has determined that the securitization transactions do not meet the accounting criteria for a sale or transfer of financial assets and therefore are accounted for as secured financing transactions. More specifically, the guidance on transfers and servicing sets forth the conditions that must be met to de-recognize a transferred financial asset. This guidance provides, in part, that the transferor has surrendered control over transferred assets if and only if the transferor does not maintain effective control over the transferred assets. The financing agreements contain certain provisions that allow the Partnership to unilaterally cause the holder to return the securitized assets, other than through a cleanup call. Based on these terms, the Partnership has concluded that the Partnership has not transferred effective control over the transferred assets and, as such, the transactions do not meet the conditions to de-recognize the transferred assets. In addition, the Partnership has evaluated the securitization trusts associated with the TOB, term TOB, and TEBS financings in accordance with guidance on consolidation of VIEs. See Note 5 for the consolidation analysis related to these secured financing arrangements. The Partnership is deemed to be the primary beneficiary of these securitization trusts and consolidates the assets, liabilities, income and expenses of the securitization trusts in the Partnership’s consolidated financial statements. The Partnership recognizes interest expense for fixed-rate TEBS financings with escalating stated interest rates using the effective interest method over the estimated term of the arrangement.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include highly liquid securities and investments in federally tax-exempt securities with maturities of three months or less when purchased.
Concentration of Credit Risk	Concentration of Credit Risk The Partnership maintains the majority of its unrestricted cash balances at three financial institutions. The balances insured by the Federal Deposit Insurance Corporation are equal to $250,000 at each institution. At various times the cash balances have exceeded the $ 250,000 limit. The Partnership may from time to time invest in short-term investment grade securities. The Partnership is exposed to risk on its short-term investments in the event of non-performance by counterparties, though such risk is minimal and the Partnership does not anticipate any non-performance.
Restricted Cash	Restricted Cash Restricted cash is legally restricted as to its use. The Partnership has been required to maintain restricted cash collateral related to one secured line of credit (Note 14) and the total return swap transaction (Note 17). In addition, the Partnership is required to maintain restricted cash balances related to the TEBS Financing facilities (Note 15), resident security deposits, required maintenance reserves, escrowed funds, and property rehabilitation. Restricted cash is presented with cash and cash equivalents in the consolidated statements of cash flows.
Investments in Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds	Investments in Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds The Partnership accounts for its investments in MRBs and taxable MRBs under the accounting guidance for certain investments in debt and equity securities. The Partnership’s investments in these instruments are classified as available-for-sale debt securities and are reported at their estimated fair value. The net unrealized gains or losses on these investments are reflected on the Partnership’s consolidated statements of comprehensive income. Unrealized gains and losses do not affect the cash flow of the bonds, distributions to Unitholders, or the characterization of the interest income. See Note 23 for a description of the Partnership’s methodology for estimating the fair value of MRBs and taxable MRBs. The Partnership periodically reviews its MRBs and taxable MRBs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • Failure of the borrower to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If a MRB’s estimated fair value is below amortized cost, and the Partnership has the intent to sell or may be required to sell the MRB prior to the time that its value recovers or until maturity, the Partnership will record an other-than-temporary impairment through earnings equal to the difference between the MRB’s carrying value and its fair value. If the Partnership does not expect to sell an other-than-temporarily impaired MRB, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. In determining the provision for credit loss, the Partnership compares the present value of cash flows expected to be collected to the MRB’s amortized cost basis. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact on the Partnership’s consolidated financial statements. If the Partnership experiences deterioration in the values of its MRB portfolio, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings. The Partnership periodically reviews any previously impaired MRBs for indications of a recovery of value. If a recovery of value is identified, the Partnership will accrete the recovery of prior credit losses into investment income over the remaining term of the MRB. Investments in Governmental Issuer Loans and Taxable Governmental Issuer Loans The Partnership accounts for its investment in governmental issuer loans (“GILs”) and taxable GILs under the accounting guidance for certain investments in debt and equity securities. The Partnership’s investment in these instruments are classified as held-to-maturity debt securities and are reported at amortized cost. The Partnership periodically reviews its GILs and taxable GILs for impairment. The Partnership evaluates whether unrealized losses are considered other-than-temporary impairments based on various factors including, but not necessarily limited to, the following: • The duration and severity of the decline in fair value; • The Partnership’s intent to hold and the likelihood of it being required to sell the security before its value recovers; • Adverse conditions specifically related to the security, its collateral, or both; • Volatility of the fair value of the security; • The likelihood of the borrower being able to make scheduled interest and principal payments; • The failure of the borrower to make scheduled interest or principal payments; and • Recoveries or additional declines in fair value after the balance sheet date. While the Partnership evaluates all available information, it focuses specifically on whether the security’s estimated fair value is below amortized cost. If the estimated fair value of a GIL or taxable GIL is below amortized cost, and the Partnership does not expect to recover its entire amortized cost, only the portion of the other-than-temporary impairment related to credit losses is recognized through earnings as a provision for credit loss, with the remainder recognized as a component of other comprehensive income. The recognition of other-than-temporary impairment, provision for credit loss, and the potential impairment analysis are subject to a considerable degree of judgment, the results of which, when applied under different conditions or assumptions, could have a material impact to the Partnership’s consolidated financial statements. If the Partnership experiences deterioration in the value of its GILs or taxable GILs, the Partnership may incur other-than-temporary impairments or provision for credit losses that could negatively impact the Partnership’s financial condition, cash flows, and reported earnings. Real Estate Assets The Partnership’s investments in real estate are carried at cost less accumulated depreciation. Depreciation of real estate is based on the estimated useful life of the related asset, generally 19 - 40 years on multifamily and student housing residential apartment buildings, and five to 15 years on capital improvements. Depreciation expense is calculated using the straight-line method. Maintenance and repairs are charged to expense as incurred, while improvements, renovations, and replacements are capitalized. The Partnership also holds land held for investment and development which is reported at cost. The Partnership recognizes gains and losses equal to the difference between proceeds on sale and the net carrying value of the assets at the date of disposition. The Partnership reviews real estate assets for impairment periodically and whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable. When indicators of potential impairment suggest that the carrying value of a real estate asset may not be recoverable, the Partnership compares the carrying amount of the real estate asset to the undiscounted net cash flows expected to be generated from the use of the asset. If the carrying value exceeds the undiscounted net cash flows, an impairment loss is recorded to the extent that the carrying value of the property exceeds its estimated fair value. Investments in Unconsolidated Entities The Partnership accounts for its investments in unconsolidated entities under the equity method of accounting. Through ATAX Vantage Holdings, LLC and ATAX Freestone Holdings, LLC, the Partnership makes investments in non-controlling limited membership interests in entities formed to construct market-rate multifamily properties. The Partnership applies the equity method of accounting by initially recording these investments at cost, subsequently adjusted for accrued preferred returns, the Partnership’s share of earnings (losses) of the unconsolidated entities, cash contributions, and distributions. The Partnership reviews its investments in unconsolidated affiliates for impairment whenever events or changes in business circumstances indicate that the carrying amount of the investments may not be fully recoverable. Factors considered include: • The absence of an ability to recover the carrying amount of the investment; • The inability of the investee to sustain an earnings capacity that justifies the carrying amount of the investment; or • Estimated sales proceeds that are insufficient to recover the carrying amount of the investment. The Partnership’s assessment of whether a decline in value is other than temporary is based on the Partnership’s ability and intent to hold the investment and whether evidence indicating the carrying value of the investment is recoverable within a reasonable period of time outweighs evidence to the contrary. If the fair value of the investment is determined to be less than the carrying value and the decline in value is considered other than temporary, an impairment charge would be recorded equal to the excess of the carrying value over the estimated fair value of the investment. The Partnership earns a preferred return on its investments in Vantage properties that is guaranteed by an unrelated third party, which is also an affiliate of the unconsolidated entities. The term of the third-party guaranty is from the initial investment through a date approximately five years after commencement of construction. The Partnership recognizes its preferred return based upon the guaranty provided by the unrelated third-party, the guarantor’s financial ability to perform under the guaranty and the cash flows expected to be received from each property. Preferred returns are reported within “Investment income” on the Partnership’s consolidated statements of operations. The Partnership earns a preferred return on its investments in Freestone properties that is senior to the preferred return and return of capital of the other members of the unconsolidated entities. The Partnership recognizes its preferred return on each investment to the extent there is capital of the managing member of the unconsolidated entity to support the recognition of preferred return. Preferred returns are reported within “Investment income” on the Partnership’s consolidated statements of operations. In addition, the Partnership will recognize its share of earnings (losses) of the unconsolidated entities, when appropriate, and report within “Earnings (losses) from investments in unconsolidated entities” on the Partnership’s cons olidated statements of operations. There are generally no earnings (losses) reported during the construction period for each unconsolidated entity as construction costs are capitalized.
Property Loans, Net	Property Loans, Net The Partnership invests in property loans made to the owners of certain multifamily, student housing and skilled nursing properties. Most of the property loans have been made to multifamily properties that secure MRBs and GILs owned by the Partnership. The Partnership recognizes interest income on the property loans as earned and the interest income is reported within “Other interest income” on the Partnership’s consolidated statements of operations. Interest income is not recognized for property loans that are deemed to be in nonaccrual status. Interest income is recognized upon the repayment of these property loans and accrued interest which is dependent largely on the cash flows or proceeds upon sale or refinancing of the related property. Property loans are reported net of loan loss allowances. The Partnership periodically evaluates property loans for potential impairment by estimating the fair value of the related property and comparing the fair value to the outstanding MRBs, GILs or other senior financing, plus the Partnership’s property loans. The Partnership also considers financing commitments, borrower equity commitments, guaranties by borrower affiliates, and construction progress when assessing property loans associated with GIL investments. The Partnership utilizes a discounted cash flow model that considers varying assumptions including multiple revenue and expense scenarios, various capitalization rates, and multiple discount rates. The Partnership may also consider other information such as independent appraisals in estimating a property’s fair value. If the estimated fair value of the related property, after deducting the amortized cost basis of the MRB, GIL or other senior financing, exceeds the principal balance of the property loan then no potential loss is indicated and no allowance for loan loss is recorded. If a potential loss is indicated, an allowance for loan loss is recorded against the outstanding loan amount and a loss is recognized. The determination of the need for an allowance for loan loss is subject to considerable judgment. See Note 10 for additional information on the Partnership’s property loan loss allowances.
Deferred Financing Costs	Deferred Financing Costs Debt financing costs are capitalized and amortized using the effective interest method through either the stated maturity date or the optional redemption date of the related debt financing agreement. Debt financing costs associated with revolving line of credit arrangements are reported within “Other assets” on the Partnership’s consolidated balance sheets. Deferred financing costs associated with debt financing and mortgages payable arrangements are reported as reductions to the carrying value of the related liability on the Partnership’s consolidated balance sheets.
Income Taxes	Income Taxes No provision has been made for income taxes of the Partnership as it is a partnership for federal income tax purposes such that profits and losses are allocated to Unitholders, except for certain entities described below. The distributive share of income, deductions and credits is reported to Unitholders on Internal Revenue Service (“IRS”) Schedule K-1. The Partnership pays franchise margin taxes on revenues in certain jurisdictions relating to property loans and investments in unconsolidated entities. The Greens Hold Co is a corporation that is subject to federal and state income taxes. The Partnership recognizes income tax expense or benefit for the federal and state income taxes incurred by this entity in its consolidated financial statements. The Partnership evaluates its tax positions on the consolidated financial statements under the accounting guidance for uncertain tax positions. The Partnership may recognize a tax benefit from an uncertain tax position only if the Partnership believes it is more likely than not that the tax position will be sustained on examination by taxing authorities. The Partnership accrues interest and penalties, if any, and reports them within “Income tax expense” on the Partnership’s consolidated statements of operations. Deferred income tax expense or benefit, is generally a function of the period’s temporary differences (items that are treated differently for tax purposes than for financial reporting purposes), such as depreciation, amortization of financing costs, etc. and the utilization of tax net operating losses (“NOLs”). The Partnership values its deferred tax assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Partnership records a valuation allowance for deferred income tax assets if it believes all, or some portion, of the deferred income tax asset may not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances that causes a change in the estimated ability to realize the related deferred income tax asset is included in deferred income tax expense.
Investment Income from Investments in Mortgage Revenue Bonds and Governmental Issuer Loans	Investment Income from Investments in Mortgage Revenue Bonds and Governmental Issuer Loans The interest income received by the Partnership from its MRBs and GILs is dependent upon the net cash flow of the underlying properties. Interest income on fully performing MRBs and GILs is recognized as it is earned. Current and past due interest income on MRBs and GILs not fully performing is recognized as it is received. The Partnership reinstates the accrual of interest once the MRB’s or GIL’s ability to perform is adequately demonstrated. Interest income related to MRBs and GILs is reported within “Investment Income” and interest income related to taxable MRBs and taxable GILs is reported within “Other interest income” on the Partnership’s consolidated statements of operations. As of December 31, 2022 and 2021, all of the Partnership’s MRBs and GILs were fully performing and current on all interest payments, with the exception of the Provision Center 2014-1 MRB and forbearance granted to the borrower of the Live 929 Apartments MRBs until January 2022. Premiums on callable MRB investments are amortized as a yield adjustment to the earliest call date. Discounts on MRB investments are amortized as a yield adjustment to the stated maturity date. Amortization of premiums and discounts is reported within “Investment income” on the Partnership’s consolidated statements of operations. Bond origination costs are capitalized and amortized utilizing the effective interest method over the period to the stated maturity of the related MRB and taxable MRB investments. Bond origination costs are reported as an adjustment to the cost adjusted for paydowns and allowances of the related MRB in Note 6.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Partnership reports interest rate derivatives on its consolidated balance sheets at fair value. The Partnership’s derivative instruments are not designated as hedging instruments for GAAP purposes and changes in fair value are reported within “Interest expense” on the Partnership’s consolidated statements of operations. The Partnership is exposed to loss upon defaults by its counterparties on its interest rate derivative agreements. The Partnership does not anticipate non-performance by any counterparty.
Redeemable Preferred Units	Redeemable Preferred Units The Partnership has designated three series of Preferred Units consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The Partnership has issued Series A Preferred Units and Series A-1 Preferred Units, representing limited partnership interests in the Partnership to various financial institutions. The Series A Preferred Units and Series A-1 Preferred Units are recorded as mezzanine equity due to the holders’ redemption option which, if and when the units become subject to redemption, is outside the Partnership’s control. The costs of issuing the Series A Preferred Units and Series A-1 Preferred Units have been netted against the carrying value of the Series A Preferred Units and Series A-1 Preferred Units, and are amortized to the first redemption date. The Partnership will account for the Series B Preferred Units in a manner consistent with the Series A Preferred Units and Series A-1 Preferred Units if and when issued.
Beneficial Unit Certificates ("BUCs")	Beneficial Unit Certificates (“BUCs”) The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs. As a result of the Reverse Unit Split, holders of BUCs received one BUC for every three BUCs owned at the close of business on April 1, 2022. All fractional BUCs created by the Reverse Unit Split were rounded to the nearest whole BUC, with any fraction equal to or above 0.5 BUC rounded up to the next higher BUC, as provided by the Partnership Agreement. Immediately prior to the Reverse Unit Split, there were 66,049,908 BUCs issued and outstanding, and immediately after the Reverse Unit Split the number of issued and outstanding BUCs decreased to 22,017,915 . In connection with the Reverse Unit Split, the CUSIP number for the BUCs changed to 02364V 206. The BUCs continue to trade on the NYSE under the trading symbol “GHI.” On September 14, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “Third Quarter BUCs Distribution”). The Third Quarter BUCs Distribution was paid at a ratio of 0.01044 BUCs for each issued and outstanding BUC as of the record date of September 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the Nasdaq Stock Market LLC on September 13, 2022, which was the national securities exchange upon which the BUCs were listed as of that date. The Third Quarter BUCs Distribution was completed on October 31, 2022. On December 19, 2022, the Partnership declared a supplemental distribution payable in the form of additional BUCs equal to $ 0.20 per BUC (the “Fourth Quarter BUCs Distribution”, collectively with the Third Quarter BUCs Distribution, the “BUCs Distributions”). The Fourth Quarter BUCs Distribution was paid at a ratio of 0.0105 BUCs for each issued and outstanding BUC as of the record date of December 30, 2022 , which represents an amount per BUC based on the closing price of the BUCs on the NYSE on December 16, 2022. The Fourth Quarter BUCs Distribution was completed on January 31, 2023. There were no fractional BUCs issued in connection with the BUCs Distributions. All fractional BUCs resulting from the BUCs Distributions received cash for such fraction based on the market value of the BUCs on the record date. The one-for-three Reverse Unit Split and the BUCs Distributions have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s consolidated financial statements.
Restricted Unit Awards ("RUA" or "RUAs")	Restricted Unit Awards (“RUA” or “RUAs”) On December 5, 2022, the Board of Managers of Greystone Manager approved the Amended and Restated Greystone Housing Impact Investors LP 2015 Equity Incentive Plan (the “Plan”) to reflect the Partnership’s new name. No material or other changes were made to the Plan. The Plan was approved by the BUC holders in September 2015and permits the grant of RUAs and other awards to the employees of Greystone Manager, or any affiliate, who performs services for Greystone Manager, the Partnership or an affiliate, and members of the Board of Managers of Greystone Manager . The Plan permits total grants of RUAs of up to 1.0 million BUCs, which reflects adjustments made to the number of BUCs that may be granted under the Plan as a result of the Reverse Unit Split. RUAs have historically been granted with vesting conditions ranging from three months to up to three years. RUAs typically provide for the payment of distributions during the restriction period. The RUAs provide for accelerated vesting if there is a change in control, or upon death or disability of the participant. Outstanding RUAs were adjusted on a one-for-three basis in conjunction with the Reverse Unit Split effected on April 1, 2022. The number of outstanding RUAs was not impacted by the BUCs Distributions as holders of RUAs did not participate in the BUCs Distributions, but rather received cash in the amount of $ 0.40 per RUA. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The Partnership accounts for modifications to RUAs as they occur, if the fair value of the RUAs change, there are changes to vesting conditions or the awards no longer qualify for equity classificatio n. The Partnership accounts for forfeitures as they occur.
Net Income per BUC	Net Income per BUC The Partnership uses the two-class method to allocate net income available to the BUCs, and to the unvested RUAs as the RUAs are participating securities. Unvested RUAs are included with BUCs for the calculation of diluted net income per BUC using the treasury stock method, if the treasury stock method is more dilutive than the two-class method.
Lessee Leases	Lessee Leases The Partnership’s only material lessee lease was a ground lease at The 50/50 MF Property, which was sold in December 2022. The ground lease was assumed by the buyer. The Partnership has elected the package of practical expedients in ASU 2016-11, elected not to apply ASC 842 to short-term leases, and elected to combine lease and non-lease components when accounting for operating lease arrangements. The Partnership’s lessee ROU assets are reported within “Other assets” on the Partnership’s consolidated balance sheet (Note 12). The Partnership’s lessee operating lease liabilities are reported within “Accounts payable, accrued expenses and other liabilities” on the Partnership’s consolidated balance sheet (Note 13). See Note 13 for additional information on the Partnership’s ground lease. The Partnership used a discount rate of 6.6 % to calculate the ROU asset and lease liability related to the ground lease. The discount rate is based on the Partnership’s estimated incremental borrowing rate to borrow, on a fully collateralized basis, over a similar term for the amount of contractual lease payments. The incremental borrowing rate was estimated using market transactions adjusted for differences in term and security.
Lessor Leases	Lessor Leases The Partnership’s lessor leases consist of tenant leases related to real estate assets, specifically at the MF Properties. Tenant leases also contain terms for non-lease revenues related to operations at the MF Properties, such as parking and food service revenues. The Partnership has elected to combine the lease and non-lease components when accounting for lessor leases. The unit lease component of the tenant lease is considered the predominant component, so all components of the tenant lease are accounted for under ASC 842. Tenant leases are typically for terms of 12 months or less and do not include extension options so no ROU asset has been recorded for such leases. Lease revenue is recognized monthly and is reported within “Property revenues” on the Partnership’s consolidated statements of operations.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses (Topic 326).” ASU 2016-13 enhances the methodology of measuring expected credit losses for financial assets to include the use of reasonable and supportable forward-looking information to better estimate credit losses. In general, the allowance for credit losses is expected to increase when changing from an incurred loss to expected loss methodology. ASU 2016-13 also includes changes to the impairment model for available-for-sale debt securities such as the Partnership’s MRBs and taxable MRBs. ASU 2016-13 is effective for the Partnership on January 1, 2023 and is to be adopted through a cumulative-effect adjustment to retained earnings as of that date. The Partnership regularly assesses its assets that are within the scope of ASU 2016-13 and has determined that the GILs, taxable GILs, property loans, receivables reported within other assets, financial guaranties, financial commitments, and interest receivable related to such assets, are within the scope of ASU 2016-13. The Partnership has developed a loss rate model based on the weighted average remaining maturity of items within the scope of ASU 2016-13. The Partnership has developed and continues to refine data collection processes, assessment procedures and internal controls that will be required when ASU 2016-13 becomes effective, and to evaluate the impact to the Partnership's consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform—Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provides optional guidance for a limited period meant to ease the potential burden in accounting for, or recognizing the effects of, reform to LIBOR and certain other reference rates. The standard is effective for all entities from March 12, 2020 through December 31, 2024. ASU 2020-04 is only applicable to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, and that were entered into or evaluated prior to January 1, 2023. The Partnership has evaluated its population of instruments indexed, either directly or indirectly, to LIBOR and does not currently expect the adoption of ASU 2020-04 to have a material impact on the Partnership's consolidated financial statements.

Partnership Income, Expenses _2

Partnership Income, Expenses and Distributions (Tables)	12 Months Ended
Partnership Income, Expenses and Distributions (Tables)	Dec. 31, 2022
Partnership Income Expenses And Cash Distributions [Abstract]
Schedule of Distributions Paid or Accrued per Beneficial Unit Certificates	Cash distributions paid or accrued per BUC during the fiscal years ended December 31, 2022 and 2021 were as follows: For the Years Ended December 31, 2022 2021 Cash distributions (1) $ 1.709 $ 1.469 (1) All cash distributions per BUC amounts above have been retroactively adjusted for the one-for-three Reverse Unit Split and the BUCs Distributions.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
Variable Interest Entities (Tables)	Dec. 31, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities Property Asset Carrying Value and Maximum Exposure	The following table summarizes the Partnership’s maximum exposure to loss associated with its variable interests as of December 31, 2022 and 2021: Maximum Exposure to Loss December 31, 2022 December 31, 2021 Mortgage revenue bonds $ 71,629,581 $ 51,045,000 Taxable mortgage revenue bonds 3,044,829 2,000,000 Governmental issuer loans 300,230,435 184,767,450 Taxable governmental issuer loans 8,000,000 1,000,000 Property loans 169,002,497 47,274,576 Investments in unconsolidated entities 115,790,841 107,793,522 $ 667,698,183 $ 393,880,548

Mortgage Revenue Bonds (Tables)

Mortgage Revenue Bonds (Tables)	12 Months Ended
Mortgage Revenue Bonds (Tables)	Dec. 31, 2022
Investments In Mortgage Revenue Bonds [Abstract]
Schedule of MRB Investments	The Partnership had the following MRB investments as of December 31, 2022 and 2021: December 31, 2022 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,874,603 $ 888,242 $ - $ 10,762,845 Glenview Apartments - Series A (3) CA 4,372,370 309,570 - 4,681,940 Harmony Court Bakersfield - Series A (4) CA 3,600,418 274,456 - 3,874,874 Harmony Terrace - Series A (4) CA 6,665,787 625,752 - 7,291,539 Harden Ranch - Series A (2) CA 6,449,455 581,466 - 7,030,921 Las Palmas II - Series A (4) CA 1,633,397 140,681 - 1,774,078 Lutheran Gardens (6) CA 10,352,000 127,107 - 10,479,107 Montclair Apartments - Series A (3) CA 2,368,757 199,617 - 2,568,374 Montecito at Williams Ranch Apartments - Series A (6) CA 7,507,111 834,292 - 8,341,403 Montevista - Series A (6) CA 6,656,219 902,690 - 7,558,909 Ocotillo Springs - Series A (6), (7) CA 11,090,000 - ( 331,311 ) 10,758,689 Residency at the Entrepreneur - Series J-1 (6) CA 9,088,496 122,815 - 9,211,311 Residency at the Entrepreneur - Series J-2 (6) CA 7,500,000 176,092 - 7,676,092 Residency at the Entrepreneur - Series J-3 (6) CA 3,900,000 726,834 - 4,626,834 Residency at the Mayer - Series A (6) CA 26,067,585 - - 26,067,585 San Vicente - Series A (4) CA 3,367,978 255,787 - 3,623,765 Santa Fe Apartments - Series A (3) CA 2,869,660 216,000 - 3,085,660 Seasons at Simi Valley - Series A (4) CA 4,137,438 522,910 - 4,660,348 Seasons Lakewood - Series A (4) CA 7,100,512 666,562 - 7,767,074 Seasons San Juan Capistrano - Series A (4) CA 11,954,944 1,038,904 - 12,993,848 Summerhill - Series A (4) CA 6,199,861 265,296 - 6,465,157 Sycamore Walk - Series A (4) CA 3,428,986 124,598 - 3,553,584 The Village at Madera - Series A (4) CA 2,977,825 247,354 - 3,225,179 Tyler Park Townhomes - Series A (2) CA 5,616,043 264,300 - 5,880,343 Vineyard Gardens - Series A (6) CA 3,908,104 514,719 - 4,422,823 Westside Village Market - Series A (2) CA 3,670,075 267,369 - 3,937,444 Brookstone (1) IL 7,286,052 1,286,871 - 8,572,923 Copper Gate Apartments (2) IN 4,840,000 117,014 - 4,957,014 Renaissance - Series A (3) LA 10,585,375 645,412 - 11,230,787 Live 929 Apartments - Series 2022A (6) MD 58,107,262 2,217,857 - 60,325,119 Jackson Manor Apartments (6) MS 6,900,000 - - 6,900,000 Greens Property - Series A (2) NC 7,599,000 597 - 7,599,597 Silver Moon - Series A (3) NM 7,557,312 863,401 - 8,420,713 Village at Avalon (5) NM 15,942,560 1,727,010 - 17,669,570 Columbia Gardens (4) SC 12,542,207 968,469 - 13,510,676 Companion at Thornhill Apartments (4) SC 10,786,181 709,979 - 11,496,160 The Palms at Premier Park Apartments (2) SC 18,137,042 808,555 - 18,945,597 The Park at Sondrio - Series 2022A (6) SC 38,100,000 - - 38,100,000 The Park at Vietti - Series 2022A (6) SC 26,985,000 - - 26,985,000 Village at River's Edge (4) SC 9,649,659 590,962 - 10,240,621 Willow Run (4) SC 12,368,964 953,988 - 13,322,952 Arbors at Hickory Ridge (2) TN 10,591,726 2,005,029 - 12,596,755 Avistar at Copperfield - Series A (6) TX 13,532,636 919,463 - 14,452,099 Avistar at the Crest - Series A (2) TX 8,896,378 975,504 - 9,871,882 Avistar at the Oaks - Series A (2) TX 7,196,674 717,701 - 7,914,375 Avistar at the Parkway - Series A (3) TX 12,429,842 950,930 - 13,380,772 Avistar at Wilcrest - Series A (6) TX 5,128,595 170,370 - 5,298,965 Avistar at Wood Hollow - Series A (6) TX 38,941,304 2,645,832 - 41,587,136 Avistar in 09 - Series A (2) TX 6,214,048 619,707 - 6,833,755 Avistar on the Boulevard - Series A (2) TX 15,155,942 1,290,551 - 16,446,493 Avistar on the Hills - Series A (2) TX 4,927,003 523,079 - 5,450,082 Bruton Apartments (4) TX 17,381,296 281,271 - 17,662,567 Concord at Gulfgate - Series A (4) TX 18,404,942 1,842,303 - 20,247,245 Concord at Little York - Series A (4) TX 12,893,533 1,249,523 - 14,143,056 Concord at Williamcrest - Series A (4) TX 19,973,464 1,935,645 - 21,909,109 Crossing at 1415 - Series A (4) TX 7,170,756 605,369 - 7,776,125 Decatur Angle (4) TX 21,866,672 77,837 - 21,944,509 Esperanza at Palo Alto (4) TX 18,916,082 2,209,462 - 21,125,544 Heights at 515 - Series A (4) TX 6,564,951 573,569 - 7,138,520 Heritage Square - Series A (3) TX 10,325,196 671,790 - 10,996,986 Oaks at Georgetown - Series A (4) TX 11,911,472 746,300 - 12,657,772 Runnymede (1) TX 9,535,000 45,577 - 9,580,577 Southpark (1) TX 11,257,062 1,352,726 - 12,609,788 15 West Apartments (4) WA 9,454,318 1,534,060 - 10,988,378 Mortgage revenue bonds held in trust $ 718,413,130 $ 45,127,126 $ ( 331,311 ) $ 763,208,945 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 (7) As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. December 31, 2022 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments CA $ 3,792,700 $ 42,672 $ - $ 3,835,372 Residency at Empire - Series BB-1 CA 14,118,500 - - 14,118,500 Residency at Empire - Series BB-2 CA 4,000,000 - - 4,000,000 Residency at Empire - Series BB-3 CA 55,000 - - 55,000 Solano Vista - Series A CA 2,631,168 297,861 - 2,929,029 Meadow Valley (1) MI 4,833,437 - ( 1,193,085 ) 3,640,352 Greens Property - Series B NC 915,039 122 - 915,161 Provision Center 2014-1 TN 4,294,939 - - 4,294,939 Avistar at the Crest - Series B TX 724,747 53,132 - 777,879 Avistar at the Oaks - Series B TX 530,829 33,406 - 564,235 Avistar at the Parkway - Series B TX 123,176 22,510 - 145,686 Avistar in 09 - Series B TX 437,886 27,557 - 465,443 Avistar on the Boulevard - Series B TX 430,647 26,816 - 457,463 Mortgage revenue bonds held by the Partnership $ 36,888,068 $ 504,076 $ ( 1,193,085 ) $ 36,199,059 (1) The Partnership has a remaining MRB funding commitment of $ 39.3 million as of December 31, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 39.3 million funding commitment outstanding as of December 31, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary. December 31, 2021 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Courtyard - Series A (4) CA $ 9,970,209 $ 2,060,480 $ - $ 12,030,689 Glenview Apartments - Series A (3) CA 4,429,350 863,955 - 5,293,305 Harmony Court Bakersfield - Series A (4) CA 3,635,277 720,308 - 4,355,585 Harmony Terrace - Series A (4) CA 6,730,004 1,425,757 - 8,155,761 Harden Ranch - Series A (2) CA 6,538,111 1,285,747 - 7,823,858 Las Palmas II - Series A (4) CA 1,649,370 332,704 - 1,982,074 Montclair Apartments - Series A (3) CA 2,399,626 446,912 - 2,846,538 Montecito at Williams Ranch Apartments - Series A (6) CA 7,568,334 1,983,454 - 9,551,788 Montevista - Series A (6) CA 6,701,776 2,114,978 - 8,816,754 Ocotillo Springs - Series A (6) CA 15,000,000 271,172 - 15,271,172 Residency at the Mayer - Series A (6) CA 24,000,000 - - 24,000,000 San Vicente - Series A (4) CA 3,400,913 671,681 - 4,072,594 Santa Fe Apartments - Series A (3) CA 2,907,057 567,028 - 3,474,085 Seasons at Simi Valley - Series A (4) CA 4,188,582 1,011,623 - 5,200,205 Seasons Lakewood - Series A (4) CA 7,168,917 1,518,742 - 8,687,659 Seasons San Juan Capistrano - Series A (4) CA 12,070,116 2,557,065 - 14,627,181 Summerhill - Series A (4) CA 6,259,888 1,187,464 - 7,447,352 Sycamore Walk - Series A (4) CA 3,474,617 696,090 - 4,170,707 The Village at Madera - Series A (4) CA 3,006,656 621,367 - 3,628,023 Tyler Park Townhomes - Series A (2) CA 5,694,168 691,137 - 6,385,305 Vineyard Gardens - Series A (6) CA 3,939,476 987,782 - 4,927,258 Westside Village Market - Series A (2) CA 3,721,129 701,915 - 4,423,044 Brookstone (1) IL 7,334,161 1,903,086 - 9,237,247 Copper Gate Apartments (2) IN 4,900,000 433,436 - 5,333,436 Renaissance - Series A (3) LA 10,732,295 4,172,381 - 14,904,676 Live 929 Apartments - 2014 Series A (6) MD 36,169,147 573,155 - 36,742,302 Jackson Manor Apartments (6) MS 4,900,000 - - 4,900,000 Gateway Village (6) NC 2,600,000 90,861 - 2,690,861 Greens Property - Series A (2) NC 7,719,000 281,953 - 8,000,953 Lynnhaven Apartments (6) NC 3,450,000 115,328 - 3,565,328 Silver Moon - Series A (3) NM 7,629,704 1,868,323 - 9,498,027 Village at Avalon (5) NM 16,069,382 4,124,498 - 20,193,880 Ohio Properties - Series A (1) OH 13,580,000 - - 13,580,000 Bridle Ridge (1) SC 7,145,000 - - 7,145,000 Columbia Gardens (4) SC 12,725,440 2,003,599 - 14,729,039 Companion at Thornhill Apartments (4) SC 10,924,609 1,793,226 - 12,717,835 Cross Creek (1) SC 6,120,285 1,845,064 - 7,965,349 The Palms at Premier Park Apartments (2) SC 18,385,572 2,181,632 - 20,567,204 Village at River's Edge (4) SC 9,728,355 2,370,569 - 12,098,924 Willow Run (4) SC 12,549,146 1,974,479 - 14,523,625 Arbors at Hickory Ridge (2) TN 10,755,889 3,598,292 - 14,354,181 Avistar at Copperfield - Series A (6) TX 13,678,286 2,549,711 - 16,227,997 Avistar at the Crest - Series A (2) TX 9,022,172 1,926,825 - 10,948,997 Avistar at the Oaks - Series A (2) TX 7,295,334 1,578,333 - 8,873,667 Avistar at the Parkway - Series A (3) TX 12,579,783 2,353,247 - 14,933,030 Avistar at Wilcrest - Series A (6) TX 5,183,794 772,242 - 5,956,036 Avistar at Wood Hollow - Series A (6) TX 39,360,426 7,200,790 - 46,561,216 Avistar in 09 - Series A (2) TX 6,299,237 1,288,060 - 7,587,297 Avistar on the Boulevard - Series A (2) TX 15,370,243 3,165,575 - 18,535,818 Avistar on the Hills - Series A (2) TX 4,994,549 1,100,478 - 6,095,027 Bruton Apartments (4) TX 17,532,185 4,452,765 - 21,984,950 Concord at Gulfgate - Series A (4) TX 18,606,719 4,211,979 - 22,818,698 Concord at Little York - Series A (4) TX 13,034,887 3,055,517 - 16,090,404 Concord at Williamcrest - Series A (4) TX 20,192,436 4,651,973 - 24,844,409 Crossing at 1415 - Series A (4) TX 7,253,698 1,549,224 - 8,802,922 Decatur Angle (4) TX 22,074,594 4,731,759 - 26,806,353 Esperanza at Palo Alto (4) TX 19,071,622 5,317,911 - 24,389,533 Heights at 515 - Series A (4) TX 6,640,885 1,418,341 - 8,059,226 Heritage Square - Series A (3) TX 10,455,924 1,823,426 - 12,279,350 Oaks at Georgetown - Series A (4) TX 12,026,225 2,181,690 - 14,207,915 Runnymede (1) TX 9,675,000 99,489 - 9,774,489 Southpark (1) TX 11,365,100 1,542,509 - 12,907,609 15 West Apartments (4) WA 9,531,842 2,799,259 - 12,331,101 Mortgage revenue bonds held in trust $ 639,116,502 $ 111,818,346 $ - $ 750,934,848 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 December 31, 2021 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Lutheran Gardens CA $ 10,352,000 $ - $ - $ 10,352,000 Solano Vista - Series A CA 2,649,291 744,617 - 3,393,908 Live 929 Apartments - 2014 Series B MD 17,344,000 - - 17,344,000 Meadow Valley MI 100,000 - - 100,000 Greens Property - Series B NC 920,637 46,672 - 967,309 Ohio Properties - Series B OH 3,465,270 - - 3,465,270 Provision Center 2014-1 TN 4,300,000 - - 4,300,000 Avistar at the Crest - Series B TX 730,612 122,646 - 853,258 Avistar at the Oaks - Series B TX 534,953 86,437 - 621,390 Avistar at the Parkway - Series B TX 123,598 37,590 - 161,188 Avistar in 09 - Series B TX 441,288 71,303 - 512,591 Avistar on the Boulevard - Series B TX 434,132 69,950 - 504,082 Mortgage revenue bonds held by the Partnership $ 41,395,781 $ 1,179,215 $ - $ 42,574,996
Schedule of MRBs Acquisitions	The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the year ended December 31, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Residency at the Entrepreneur - Series J-1 April Los Angeles, CA 200 3/31/2040 6.00 % $ 9,000,000 Residency at the Entrepreneur - Series J-2 April Los Angeles, CA 200 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 (1) April Los Angeles, CA 200 3/31/2040 6.00 % - Residency at the Entrepreneur - Series J-4 (1) April Los Angeles, CA 200 3/31/2040 SOFR + 3.60 % (2) - CCBA Senior Garden Apartments (3) June San Diego, CA 45 7/1/2037 4.50 % 3,807,000 Park at Sondrio - Series 2022A December Greenville, SC 271 1/1/2030 6.50 % 38,100,000 Park at Vietti - Series 2022A December Spartanburg, SC 204 1/1/2030 6.50 % 26,985,000 Residency at Empire - Series BB-1 December Burbank, CA 148 12/1/2040 6.45 % (4) 14,000,000 Residency at Empire - Series BB-2 December Burbank, CA 148 12/1/2040 6.45 % (4) 4,000,000 Residency at Empire - Series BB-3 (5) December Burbank, CA 148 12/1/2040 6.45 % (4) 55,000 Residency at Empire - Series BB-4 (5) December Burbank, CA 148 12/1/2040 6.45 % (6) - $ 103,447,000 (1) The Partnership has committed to provide funding for the Series J-3 and Series J-4 MRBs of $ 26.1 million and $ 16.4 million, respectively. See Note 18. (2) The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. (3) The investment was previously reported as a bond purchase commitment that has converted to an MRB. (4) In December 2029, the interest rate will reset to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. (5) The Partnership has committed to provide additional funding during construction for the Series BB-3 and Series BB-4 MRBs of $ 13.9 million and $ 47.0 million, respectively. See Note 18. (6) Upon stabilization, the MRB will resize to an amount not to exceed $ 3.3 million and become subordinate to the other senior MRBs of the borrower. In December 2029, the interest rate will convert to a fixed rate of 10.0 %. Restructurings: In January 2022, the Live 929 Apartments property completed a restructuring of the Partnership’s MRBs and property loan. The Partnership’s Live 929 Apartments – 2014 Series A and Live 929 Apartments – 2014 Series B MRBs were redeemed at par plus accrued interest. The following tables summarizes the terms of the MRBs upon redemption: Property Name Month Property Location Units Original Interest Rate Principal Live 929 Apartments - 2014 Series A January Baltimore, MD 575 7/1/2049 5.78 % $ 39,445,000 Live 929 Apartments - 2014 Series B January Baltimore, MD 575 7/1/2039 1.60 % 21,610,000 $ 61,055,000 Upon restructuring, the Partnership used the proceeds of the redeemed MRBs plus additional cash to acquire a new series of MRB secured by the Live 929 Apartments property, the Series 2022A MRB. The following tables summarizes the MRB that was acquired as part of the restructuring of the Live 929 Apartments MRBs: Property Name Month Property Location Units Maturity Date Interest Rate Principal Acquired Live 929 Apartments - Series 2022A January Baltimore, MD 575 1/1/2060 4.30 % $ 66,365,000 The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the year ended December 31, 2021: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funded Jackson Manor Apartments (1) April Jackson, MS 60 5/1/2038 5.00 % $ 4,150,000 Residency at the Mayer - Series A (2) October Hollywood, CA 79 4/1/2039 SOFR + 3.60 % (3) 24,000,000 Meadow Valley (4) December Garfield Charter Township, MI 154 12/1/2029 6.25 % 100,000 Lutheran Gardens December Compton, CA 76 2/1/2025 4.90 % 10,352,000 Live 929 Apartments - Series B (5) December Baltimore, MD 575 7/1/2039 1.60 % (6) 21,680,000 $ 60,282,000 (1) The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million. (2) The Partnership committed to provide total funding of the MRB up to $ 29.5 million during the acquisition and rehabilitation phase of the property on a drawdown 18.1 (3) The index is subject to a floor of 0.25 %. (4) The Partnership committed to provide total funding of the MRB up to $ 44.0 million during construction on a draw-down basis. (5) The Partnership purchased the MRB at a discount to outstanding principal of $ 4.3 million. The purchase price of the bond was $ 17.3 million. (6) The MRB has a variable interest rate equal to 69.5 % of the sum of LIBOR plus 1.80 % multiplied by a margin equal to one minus the maximum U.S. Federal
Schedule of MRBs Redeemed	The following MRBs were redeemed at prices that approximated the Partnership's carrying value plus accrued interest during the year ended December 31, 2022: Property Name Month Property Location Units Original Interest Rate Principal Ohio Properties - Series A March (1) 362 6/1/2050 7.00 % $ 13,544,000 Ohio Properties - Series B March (1) 362 6/1/2050 10.00 % 3,459,840 Bridle Ridge May Greer, SC 152 1/1/2043 6.00 % 7,100,000 Cross Creek September Beaufort, SC 144 3/1/2049 6.15 % 7,666,752 Gateway Village October Durham, NC 64 4/1/2032 6.10 % 2,589,163 Lynnhaven Apartments October Durham, NC 75 4/1/2032 6.10 % 3,435,621 $ 37,795,376 (1) The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. The following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest , except as noted below, during the year ended December 31, 2021: Property Name Month Property Location Units Original Interest Rate Principal Arby Road Apartments - Series A (1) March Las Vegas, NV 180 10/1/2027 5.35 % $ 1,600,000 Arby Road Apartments - Series A (1) March Las Vegas, NV 180 4/1/2041 5.50 % 5,785,000 Rosewood Townhomes - Series A July Goose Creek, SC 100 7/1/2055 5.75 % 9,259,206 Rosewood Townhomes - Series B July Goose Creek, SC 100 8/1/2055 12.00 % 469,781 South Pointe Apartments - Series A July Hanahan, SC 256 7/1/2055 5.75 % 21,551,600 South Pointe Apartments - Series B July Hanahan, SC 256 8/1/2055 12.00 % 1,099,487 Woodlynn Village November Maplewood, MN 59 11/1/2042 6.00 % 4,065,000 $ 43,830,074 (1) Both MRBs are part of the same series but had different interest rates and maturity dates. In February 2023, the following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest: Property Name Month Property Location Units Original Interest Rate Principal Greens Property - Series A February 2023 Durham, NC 168 10/1/2047 6.50 % $ 7,579,000 Greens Property - Series B February 2023 Durham, NC 168 10/1/2047 12.00 % $ 914,040 $ 8,493,040
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership’s allowance for credit losses for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Balance, beginning of period $ 9,175,482 $ 7,318,589 Provision for credit loss - 1,856,893 Other additions (1) 860,533 - Recovery of prior credit loss (2) ( 57,124 ) - Balance, end of period (3) $ 9,978,891 $ 9,175,482 (1) The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of December 31, 2021 and 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB.
Schedule of Percentage of MRBs Principal Outstanding	The properties securing the Partnership’s MRBs are geographically dispersed throughout the United States with significant concentrations in Texas, California and South Carolina. The table below summarizes the geographic concentrations in these states as a percentage of the total MRB principal outstanding: December 31, 2022 December 31, 2021 Texas 37 % 41 % California 26 % 23 % South Carolina 17 % 11 %
Description of Certain Terms of Partnership' MRB's	The following tables represent a description of certain terms of the Partnership’s MRBs as of December 31, 2022, and 2021: Property Name Year Acquired Location Maturity Date Base Interest Rate Principal Outstanding as of December 31, 2022 15 West Apartments - Series A (4) 2016 Vancouver, WA 7/1/2054 6.25 % $ 9,454,318 Arbors at Hickory Ridge (2) 2012 Memphis, TN 1/1/2049 6.25 % 10,545,462 Avistar at Copperfield - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 13,532,636 Avistar on the Boulevard - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 15,155,942 Avistar at the Crest - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 8,896,378 Avistar (February 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 4/1/2050 9.00 % 1,155,394 Avistar at the Oaks - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 7,196,674 Avistar in 09 - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 6,214,048 Avistar on the Hills - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 4,927,003 Avistar (June 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 9/1/2050 9.00 % 968,715 Avistar at the Parkway - Series A (3) 2015 San Antonio, TX 5/1/2052 6.00 % 12,429,842 Avistar at the Parkway - Series B 2015 San Antonio, TX 6/1/2052 12.00 % 123,176 Avistar at Wilcrest - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 5,128,595 Avistar at Wood Hollow - Series A (6) 2017 Austin, TX 5/1/2054 5.75 % 38,941,304 Brookstone (1) 2009 Waukegan, IL 5/1/2040 5.45 % 8,403,386 Bruton Apartments (4) 2014 Dallas, TX 8/1/2054 6.00 % 17,381,296 CCBA Senior Garden Apartments 2022 San Diego, CA 7/1/2037 4.50 % 3,792,700 Columbia Gardens (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,455,000 Companion at Thornhill Apartments (4) 2016 Lexington, SC 1/1/2052 5.80 % 10,786,181 Concord at Gulfgate - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 18,404,942 Concord at Little York - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 12,893,533 Concord at Williamcrest - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 19,973,464 Copper Gate Apartments (2) 2013 Lafayette, IN 12/1/2029 6.25 % 4,840,000 Courtyard - Series A (4) 2016 Fullerton, CA 12/1/2033 5.00 % 9,874,603 Crossing at 1415 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 7,170,756 Decatur Angle (4) 2014 Fort Worth, TX 1/1/2054 5.75 % 21,866,672 Esperanza at Palo Alto (4) 2018 San Antonio, TX 7/1/2058 5.80 % 18,916,082 Glenview Apartments - Series A (3) 2014 Cameron Park, CA 12/1/2031 5.75 % 4,372,370 Greens Property - Series A (2) 2012 Durham, NC 10/1/2047 6.50 % 7,599,000 Greens Property - Series B 2012 Durham, NC 10/1/2047 12.00 % 915,039 Harden Ranch - Series A (2) 2014 Salinas, CA 3/1/2030 5.75 % 6,449,455 Harmony Court Bakersfield - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 3,600,418 Harmony Terrace - Series A (4) 2016 Simi Valley, CA 1/1/2034 5.00 % 6,665,787 Heights at 515 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 6,564,951 Heritage Square - Series A (3) 2014 Edinburg, TX 9/1/2051 6.00 % 10,325,196 Jackson Manor Apartments (6) 2021 Jackson, MS 5/1/2038 5.00 % 6,900,000 Las Palmas II - Series A (4) 2016 Coachella, CA 11/1/2033 5.00 % 1,633,397 Live 929 Apartments - Series 2022A (6) 2022 Baltimore, MD 1/1/2060 4.30 % 66,365,000 Lutheran Gardens (6) 2021 Compton, CA 2/1/2025 4.90 % 10,352,000 Meadow Valley 2021 Garfield Charter Township, MI 12/1/2029 6.25 % 4,723,437 Montclair Apartments - Series A (3) 2014 Lemoore, CA 12/1/2031 5.75 % 2,368,757 Montecito at Williams Ranch Apartments - Series A (6) 2017 Salinas, CA 10/1/2034 5.50 % 7,507,111 Montevista - Series A (6) 2019 San Pablo, CA 7/1/2036 5.75 % 6,656,219 Oaks at Georgetown - Series A (4) 2016 Georgetown, TX 1/1/2034 5.00 % 11,911,472 Ocotillo Springs - Series A (6) 2020 Brawley, CA 8/1/2037 4.55 % 11,090,000 Park at Sondrio - Series 2022A (6) 2022 Greenville, SC 1/1/2030 6.50 % 38,100,000 Park at Vietti - Series 2022A (6) 2022 Spartanburg, SC 1/1/2030 6.50 % 26,985,000 Provision Center 2014-1 2014 Knoxville, TN 5/1/2034 6.00 % 10,000,000 Renaissance - Series A (3) 2015 Baton Rouge, LA 6/1/2050 6.00 % 10,585,375 Residency at Empire - Series BB-1 2022 Burbank, CA 12/1/2040 6.45 % 14,000,000 Residency at Empire - Series BB-2 2022 Burbank, CA 12/1/2040 6.45 % 4,000,000 Residency at Empire - Series BB-3 2022 Burbank, CA 12/1/2040 6.45 % 55,000 Residency at the Entrepreneur - Series J-1 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 9,000,000 Residency at the Entrepreneur - Series J-2 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 7,500,000 Residency at the Entrepreneur - Series J-3 (6) 2022 Los Angeles, CA 3/31/2040 6.00 % 3,900,000 Residency at the Mayer - Series A (6) 2021 Hollywood, CA 4/1/2039 3.85 % 26,000,000 Runnymede (1) 2007 Austin, TX 10/1/2042 6.00 % 9,535,000 San Vicente - Series A (4) 2016 Soledad, CA 11/1/2033 5.00 % 3,367,978 Santa Fe Apartments - Series A (3) 2014 Hesperia, CA 12/1/2031 5.75 % 2,869,660 Seasons at Simi Valley - Series A (4) 2015 Simi Valley, CA 9/1/2032 5.75 % 4,137,438 Seasons Lakewood - Series A (4) 2016 Lakewood, CA 1/1/2034 5.00 % 7,100,512 Seasons San Juan Capistrano - Series A (4) 2016 San Juan Capistrano, CA 1/1/2034 5.00 % 11,954,944 Silver Moon - Series A (3) 2015 Albuquerque, NM 8/1/2055 6.00 % 7,557,312 Solano Vista - Series A 2018 Vallejo, CA 1/1/2036 5.85 % 2,631,168 Southpark (1) 2009 Austin, TX 12/1/2049 6.13 % 12,495,000 Summerhill - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 6,199,861 Sycamore Walk - Series A (4) 2015 Bakersfield, CA 1/1/2033 5.25 % 3,428,986 The Palms at Premier Park Apartments (2) 2013 Columbia, SC 1/1/2050 6.25 % 18,137,042 Tyler Park Townhomes (2) 2013 Greenfield, CA 1/1/2030 5.75 % 5,616,043 The Village at Madera - Series A (4) 2016 Madera, CA 12/1/2033 5.00 % 2,977,825 Village at Avalon (5) 2018 Albuquerque, NM 1/1/2059 5.80 % 15,942,559 Village at River's Edge (4) 2017 Columbia, SC 6/1/2033 6.00 % 9,649,659 Vineyard Gardens - Series A (6) 2017 Oxnard, CA 1/1/2035 5.50 % 3,908,104 Westside Village Market (2) 2013 Shafter, CA 1/1/2030 5.75 % 3,670,075 Willow Run (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,282,000 $ 771,014,252 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a secured financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a secured financing transaction, Note 15 Property Name Year Acquired Location Maturity Date Base Interest Rate Principal Outstanding as of December 31, 2021 15 West Apartments - Series A (4) 2016 Vancouver, WA 7/1/2054 6.25 % $ 9,531,842 Arbors at Hickory Ridge (2) 2012 Memphis, TN 1/1/2049 6.25 % 10,701,537 Avistar at Copperfield - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 13,678,286 Avistar on the Boulevard - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 15,370,243 Avistar at the Crest - Series A (2) 2013 San Antonio, TX 3/1/2050 6.00 % 9,022,172 Avistar (February 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 4/1/2050 9.00 % 1,164,744 Avistar at the Oaks - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 7,295,334 Avistar in 09 - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 6,299,237 Avistar on the Hills - Series A (2) 2013 San Antonio, TX 8/1/2050 6.00 % 4,994,549 Avistar (June 2013 Acquisition) - Series B (2 Bonds) 2013 San Antonio, TX 9/1/2050 9.00 % 976,241 Avistar at the Parkway - Series A (3) 2015 San Antonio, TX 5/1/2052 6.00 % 12,579,783 Avistar at the Parkway - Series B 2015 San Antonio, TX 6/1/2052 12.00 % 123,598 Avistar at Wilcrest - Series A (6) 2017 Houston, TX 5/1/2054 5.75 % 5,183,794 Avistar at Wood Hollow - Series A (6) 2017 Austin, TX 5/1/2054 5.75 % 39,360,427 Bridle Ridge (1) 2008 Greer, SC 1/1/2043 6.00 % 7,145,000 Brookstone (1) 2009 Waukegan, IL 5/1/2040 5.45 % 8,531,517 Bruton Apartments (4) 2014 Dallas, TX 8/1/2054 6.00 % 17,532,185 Columbia Gardens (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,620,000 Companion at Thornhill Apartments (4) 2016 Lexington, SC 1/1/2052 5.80 % 10,924,609 Concord at Gulfgate - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 18,606,719 Concord at Little York - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 13,034,887 Concord at Williamcrest - Series A (4) 2015 Houston, TX 2/1/2032 6.00 % 20,192,436 Copper Gate Apartments (2) 2013 Lafayette, IN 12/1/2029 6.25 % 4,900,000 Courtyard - Series A (4) 2016 Fullerton, CA 12/1/2033 5.00 % 9,970,209 Cross Creek (1) 2009 Beaufort, SC 3/1/2049 6.15 % 7,747,521 Crossing at 1415 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 7,253,698 Decatur Angle (4) 2014 Fort Worth, TX 1/1/2054 5.75 % 22,074,594 Esperanza at Palo Alto (4) 2018 San Antonio, TX 7/1/2058 5.80 % 19,071,622 Gateway Village (6) 2019 Durham, NC 4/1/2032 6.10 % 2,600,000 Glenview Apartments - Series A (3) 2014 Cameron Park, CA 12/1/2031 5.75 % 4,429,350 Greens Property - Series A (2) 2012 Durham, NC 10/1/2047 6.50 % 7,719,000 Greens Property - Series B 2012 Durham, NC 10/1/2047 12.00 % 920,637 Harden Ranch - Series A (2) 2014 Salinas, CA 3/1/2030 5.75 % 6,538,111 Harmony Court Bakersfield - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 3,635,277 Harmony Terrace - Series A (4) 2016 Simi Valley, CA 1/1/2034 5.00 % 6,730,004 Heights at 515 - Series A (4) 2015 San Antonio, TX 12/1/2052 6.00 % 6,640,885 Heritage Square - Series A (3) 2014 Edinburg, TX 9/1/2051 6.00 % 10,455,924 Jackson Manor Apartments (6) 2021 Jackson, MS 5/1/2038 5.00 % 4,900,000 Las Palmas II - Series A (4) 2016 Coachella, CA 11/1/2033 5.00 % 1,649,370 Live 929 Apartments - Series A (6) 2014 Baltimore, MD 7/1/2049 5.78 % 39,465,000 Live 929 Apartments - Series B 2021 Baltimore, MD 7/1/2039 1.60 % 21,680,000 Lutheran Gardens 2021 Compton, CA 2/1/2025 4.90 % 10,352,000 Lynnhaven Apartments (6) 2019 Durham, NC 4/1/2032 6.10 % 3,450,000 Meadow Valley 2021 Garfield Charter Township, MI 12/1/2029 6.25 % 100,000 Montclair Apartments - Series A (3) 2014 Lemoore, CA 12/1/2031 5.75 % 2,399,626 Montecito at Williams Ranch Apartments - Series A (6) 2017 Salinas, CA 10/1/2034 5.50 % 7,568,334 Montevista - Series A (6) 2019 San Pablo, CA 7/1/2036 5.75 % 6,701,776 Oaks at Georgetown - Series A (4) 2016 Georgetown, TX 1/1/2034 5.00 % 12,026,225 Ocotillo Springs - Series A (6) 2020 Brawley, CA 8/1/2037 4.55 % 15,000,000 Ohio Properties - Series A (1) 2010 Ohio 6/1/2050 7.00 % 13,580,000 Ohio Properties - Series B 2010 Ohio 6/1/2050 10.00 % 3,465,270 Provision Center 2014-1 2014 Knoxville, TN 5/1/2034 6.00 % 10,000,000 Renaissance - Series A (3) 2015 Baton Rouge, LA 6/1/2050 6.00 % 10,732,295 Residency at the Mayer - Series A (6) 2021 Hollywood, CA 4/1/2039 3.85 % 24,000,000 Runnymede (1) 2007 Austin, TX 10/1/2042 6.00 % 9,675,000 San Vicente - Series A (4) 2016 Soledad, CA 11/1/2033 5.00 % 3,400,913 Santa Fe Apartments - Series A (3) 2014 Hesperia, CA 12/1/2031 5.75 % 2,907,057 Seasons at Simi Valley - Series A (4) 2015 Simi Valley, CA 9/1/2032 5.75 % 4,188,582 Seasons Lakewood - Series A (4) 2016 Lakewood, CA 1/1/2034 5.00 % 7,168,917 Seasons San Juan Capistrano - Series A (4) 2016 San Juan Capistrano, CA 1/1/2034 5.00 % 12,070,116 Silver Moon - Series A (3) 2015 Albuquerque, NM 8/1/2055 6.00 % 7,629,704 Solano Vista - Series A 2018 Vallejo, CA 1/1/2036 5.85 % 2,649,291 Southpark (1) 2009 Austin, TX 12/1/2049 6.13 % 12,675,000 Summerhill - Series A (4) 2016 Bakersfield, CA 12/1/2033 5.00 % 6,259,888 Sycamore Walk - Series A (4) 2015 Bakersfield, CA 1/1/2033 5.25 % 3,474,617 The Palms at Premier Park Apartments (2) 2013 Columbia, SC 1/1/2050 6.25 % 18,385,572 Tyler Park Townhomes (2) 2013 Greenfield, CA 1/1/2030 5.75 % 5,694,168 The Village at Madera - Series A (4) 2016 Madera, CA 12/1/2033 5.00 % 3,006,656 Village at Avalon (5) 2018 Albuquerque, NM 1/1/2059 5.80 % 16,069,382 Village at River's Edge (4) 2017 Columbia, SC 6/1/2033 6.00 % 9,728,355 Vineyard Gardens - Series A (6) 2017 Oxnard, CA 1/1/2035 5.50 % 3,939,476 Westside Village Market (2) 2013 Shafter, CA 1/1/2030 5.75 % 3,721,129 Willow Run (4) 2015 Columbia, SC 12/1/2050 5.50 % 12,444,000 $ 697,713,691 (1) MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 (2) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 (3) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 (4) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 (5) MRB held by Morgan Stanley in a debt financing transaction, Note 15 (6) MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15

Governmental Issuer Loans (Tabl

Governmental Issuer Loans (Tables)	12 Months Ended
Governmental Issuer Loans (Tables)	Dec. 31, 2022
Governmental Issuer Loans [Abstract]
Summary of Partnership's GIL Investments	The Partnership had the following GIL investments as of December 31, 2022 and 2021: As of December 31, 2022 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 7/1/2023 SIFMA + 3.10 % 6.76 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 2.25 % 5.91 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 6.41 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 7.37 % 34,620,000 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 7.37 % 24,450,000 Hope on Avalon January 2021 Los Angeles, CA 88 8/1/2023 SIFMA + 3.75 % 7.41 % 23,390,000 Hope on Broadway January 2021 Los Angeles, CA 49 8/1/2023 SIFMA + 3.75 % 7.41 % 12,105,623 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 6.88 % 39,893,040 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 7.11 % 17,354,472 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 7.66 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 7,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 4,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 8,550,000 2,419 $ 300,230,435 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. As of December 31, 2021 Property Name Month Property Units Maturity (1) Variable Interest (2) Current Interest Amortized Scharbauer Flats Apartments (3) June 2020 Midland, TX 300 1/1/2023 SIFMA + 3.10 % 3.20 % $ 40,000,000 Oasis at Twin Lakes (3) July 2020 Roseville, MN 228 8/1/2023 SIFMA + 3.25 % (4) 3.75 % 34,000,000 Centennial Crossings (3) August 2020 Centennial, CO 209 9/1/2023 SIFMA + 2.75 % 3.25 % 33,080,000 Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 3.57 % 33,120,605 Hilltop at Signal Hills (3) January 2021 St. Paul, MN 146 8/1/2023 SOFR + 3.07 % 3.57 % 21,550,584 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2023 SIFMA + 3.75 % 4.60 % 9,981,200 Hope on Broadway January 2021 Los Angeles, CA 49 2/1/2023 SIFMA + 3.75 % 4.60 % 3,691,245 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 3.57 % 6,372,030 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 3.55 % 2,971,786 1,832 $ 184,767,450 (1) The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). (4) The variable rate decreases to SIFMA plus 2.25 % upon completion of construction.

Real Estate Assets, net (Tables

Real Estate Assets, net (Tables)	12 Months Ended
Real Estate Assets, net (Tables)	Dec. 31, 2022
Real Estate [Abstract]
Real Estate Assets Owned by Partnership	The following tables summarize information regarding the Partnership’s real estate assets as of December 31, 2022 and 2021: Real Estate Assets as of December 31, 2022 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,244 $ 39,799,082 $ 42,998,326 Vantage at San Marcos San Marcos, TX (1) 2,660,615 1,003,857 3,664,472 Land held for development (2) 1,551,196 - 1,551,196 $ 48,213,994 Less accumulated depreciation ( 11,663,516 ) Real estate assets, net $ 36,550,478 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Real Estate Assets as of December 31, 2021 Property Name Location Number of Land and Land Buildings and Carrying Value Suites on Paseo San Diego, CA 384 $ 3,199,268 $ 39,302,507 $ 42,501,775 The 50/50 MF Property Lincoln, NE 475 - 33,013,039 33,013,039 Vantage at San Marcos San Marcos, TX (1) 2,660,615 682,929 3,343,544 Land held for development (2) 1,551,196 - 1,551,196 $ 80,409,554 Less accumulated depreciation ( 20,701,922 ) Real estate assets, net $ 59,707,632 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. (2) Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE.
Schedule of Net Loss Exclusive of Gains on Sale of MF Property	Net loss, exclusive of the gains on sale, related to The 50/50 MF Property for the years ended December 31, 2022, and 2021 is as follows: For the Years Ended December 31, 2022 2021 Net loss $ 620,728 $ 335,423

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	12 Months Ended
Investments in Unconsolidated Entities (Tables)	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Summary of Investments in Unconsolidated Entities	The following table provides the details of the investments in unconsolidated entities as of December 31, 2022 and 2021: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of December 31, 2022 Carrying Value as of December 31, 2021 Current Investments Vantage at Stone Creek Omaha, NE 294 March 2018 April 2020 $ 5,465,967 $ 6,143,099 Vantage at Coventry Omaha, NE 294 September 2018 February 2021 6,826,584 7,611,614 Vantage at Conroe Conroe, TX 288 April 2019 January 2021 10,424,625 11,164,625 Vantage at Tomball Tomball, TX 288 August 2020 April 2022 13,051,936 11,814,774 Vantage at Hutto Hutto, TX 288 December 2021 N/A 12,590,292 5,629,651 Vantage at Loveland Loveland, CO 288 April 2021 N/A 18,109,568 10,913,911 Vantage at Helotes Helotes, TX 288 May 2021 November 2022 14,029,032 11,350,686 Vantage at Fair Oaks Boerne, TX 288 September 2021 N/A 12,000,297 6,424,306 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 12,253,749 6,530,009 Freestone Greeley Greeley, CO 296 N/A N/A 4,775,708 - Freestone Cresta Bella San Antonio, TX 296 N/A N/A 6,263,083 - Subtotal 115,790,841 77,582,675 Sold Investments Vantage at Murfreesboro Murfreesboro, TN 288 September 2018 October 2020 $ - $ 12,240,000 Vantage at O'Connor San Antonio, TX 288 October 2019 June 2021 - 9,109,343 Vantage at Westover Hills San Antonio, TX 288 January 2020 July 2021 - 8,861,504 Subtotal - 30,210,847 $ 115,790,841 $ 107,793,522
Summary of Sales Information of Partnership Investment in Unconsolidated Entities	The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during 2022: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Murfreesboro Murfreesboro, TN 288 March 2022 $ 29,399,532 $ 657,937 $ 16,501,596 Vantage at Westover Hills San Antonio, TX 288 May 2022 20,923,784 - 12,658,501 Vantage at Bulverde Bulverde, TX 288 (1) 60,000 - 60,000 Vantage at Germantown Germantown, TN 288 (2) 4,407 - 4,407 Vantage at O'Connor San Antonio, TX 288 July 2022 19,381,976 1,195 10,580,781 $ 69,769,699 $ 659,132 $ 39,805,285 (1) During 2022, the Partnership received net cash of approximately $ 60,000 associated with final settlements of the Vantage at Bulverde sale in August 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. (2) During 2022, the Partnership received cash of approximately $ 4 ,000 associated with final settlements of the Vantage at Germantown sale in March 2021. The Partnership recognized the full amount as "Gain on sale of investment in an unconsolidated entity" on the Partnership’s consolidated statements of operations. The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during 2021: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Germantown Germantown, TN 288 March 2021 $ 16,096,560 $ 862,454 $ 2,809,106 Vantage at Powdersville Powdersville, SC 288 May 2021 20,118,680 2,359,394 5,463,484 Vantage at Bulverde Bulverde, TX 288 August 2021 18,916,961 1,392,312 6,954,649 Vantage at Panama City Beach Panama City Beach, FL 288 (1) 293,510 - 293,510 $ 55,425,711 $ 4,614,160 $ 15,520,749 (1) In November 2021, the Partnership received cash of approximately $ 294 ,000 upon the resolution of gain contingencies related to the sale of Vantage at Panama
Summary of Partnership's Investments in Unconsolidated Entities	The following table provides summary combined financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Property Revenues $ 22,048,926 $ 24,501,799 Gain on sale of property $ 87,602,712 $ 42,792,935 Net income $ 83,943,337 $ 37,836,191

Property Loans, Net (Tables)

Property Loans, Net (Tables)	12 Months Ended
Property Loans, Net (Tables)	Dec. 31, 2022
Property Loans Net Of Loan Loss Allowance [Abstract]
Summary of Partnership's Property Loans, Net of Loan Loss Allowances	The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of December 31, 2022 and 2021: December 31, 2022 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 24,250,000 $ - $ 24,250,000 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 19,718,334 - 19,718,334 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 29,666,905 - 29,666,905 2/1/2024 SOFR + 3.07 % Magnolia Heights 6,188,601 - 6,188,601 7/1/2024 SOFR + 3.85 % Oasis at Twin Lakes 24,018,657 - 24,018,657 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 24,160,000 - 24,160,000 7/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 130,002,497 - 130,002,497 Mezzanine Financing SoLa Impact Opportunity Zone Fund $ 39,000,000 $ - $ 39,000,000 12/30/2024 7.875 % Subtotal 39,000,000 - 39,000,000 Other The 50/50 MF Property $ 4,803,620 $ - $ 4,803,620 3/11/2048 9.00 % Avistar (February 2013 portfolio) 201,972 - 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 6,602,214 ( 495,000 ) 6,107,214 Total $ 175,604,711 $ ( 495,000 ) $ 175,109,711 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. December 31, 2021 Outstanding Loan Loss Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Centennial Crossings $ 11,354,386 $ - $ 11,354,386 9/1/2023 LIBOR + 2.50 % Hilltop at Signal Hills 1,000,000 - 1,000,000 8/1/2023 SOFR + 3.07 % Legacy Commons at Signal Hills 2,604,230 - 2,604,230 2/1/2024 SOFR + 3.07 % Oasis at Twin Lakes 20,607,362 - 20,607,362 8/1/2023 LIBOR + 2.50 % Osprey Village 1,000,000 - 1,000,000 8/1/2024 SOFR + 3.07 % Scharbauer Flats Apartments 9,708,598 - 9,708,598 1/1/2023 LIBOR + 2.85 % Willow Place Apartments 1,000,000 - 1,000,000 10/1/2024 SOFR + 3.30 % Subtotal 47,274,576 - 47,274,576 Senior Acquisition Financing Magnolia Crossing $ 13,424,579 $ - $ 13,424,579 12/1/2022 SOFR + 6.50 % (2) Subtotal 13,424,579 - 13,424,579 Other Avistar (February 2013 portfolio) $ 201,972 $ - $ 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Cross Creek 11,101,887 ( 7,393,814 ) 3,708,073 12/1/2025 6.15 % Greens Property 850,000 - 850,000 9/1/2046 10.00 % Live 929 Apartments 1,355,534 ( 1,355,534 ) - 7/31/2049 8.00 % Ohio Properties 2,390,446 - 2,390,446 12/1/2026 - 6/1/2050 10.00 % Subtotal 16,151,461 ( 8,749,348 ) 7,402,113 Total $ 76,850,616 $ ( 8,749,348 ) $ 68,101,268 (1) The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. (2) The index is subject to a floor of 0.25 %.
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership’s loan loss allowance for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Balance, beginning of period $ 8,749,348 $ 8,305,046 Provision for loan loss - $ 444,302 Write-off (1) ( 7,393,815 ) Other reductions (2) ( 860,533 ) - Balance, end of period $ 495,000 $ 8,749,348 (1) The loan loss allowance write-off for the year ended December 31, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022. (2) The reduction in the loan loss allowance for the year ended December 31, 2022 is due to a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision (Tables)

Income Tax Provision (Tables)	12 Months Ended
Income Tax Provision (Tables)	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense (Benefit)	The following table summarizes income tax expense (benefit) for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Current income tax expense (benefit) $ ( 6,138 ) $ 152,847 Deferred income tax expense (benefit) ( 45,056 ) ( 89,055 ) Total income tax expense (benefit) $ ( 51,194 ) $ 63,792

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
Other Assets (Tables)	Dec. 31, 2022
Other Assets [Abstract]
Schedule of Other Assets	The following table summarizes the Partnership’s other assets as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Deferred financing costs, net $ 964,266 $ 1,349,097 Derivative instruments at fair value (Note 17) 7,530,438 343,418 Taxable mortgage revenue bonds, at fair value 16,531,896 3,428,443 Taxable governmental issuer loans 8,000,000 1,000,000 Bond purchase commitments, at fair value (Note 18) 98,929 964,404 Operating lease right-of-use assets, net - 1,619,714 Other assets 2,649,138 2,157,809 Total other assets $ 35,774,667 $ 10,862,885
Summary of Taxable Governmental Issuer Loan and MRB, and Total Funding Commitment	The following table includes details of the taxable MRBs and taxable GILs, that were acquired during the year ended December 31, 2022: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Taxable MRBs Live 929 Apartments - Series 2022B January 2022 Baltimore, MD 575 1/1/2029 4.30 % $ 3,625,000 Residency at the Entrepreneur - Series J-T (1) April 2022 Los Angeles, CA 200 4/1/2025 SOFR + 3.65 % 1,000,000 Park at Sondrio - Series 2022B December 2022 Greenville, SC 271 1/1/2030 6.50 % 1,100,000 Park at Vietti - Series 2022B December 2022 Spartanburg, SC 204 1/1/2030 6.50 % 880,000 Residency at Empire - Series BB-T (3) December 2022 Burbank, CA 148 12/1/2025 7.45 % 1,000,000 Subtotal $ 7,605,000 Taxable GILs Poppy Grove I (2) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % $ 1,000,000 Poppy Grove II (2) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 1,000,000 Poppy Grove III (2) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 1,000,000 Subtotal $ 3,000,000 (1) The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 % . (2) The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees. (3) The Partnership has committed to provide total funding for the taxable MRB of $ 9.4 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. Activity in 2021
Summary of Taxable MRB Acquired	The following table includes details of the taxable MRB and taxable GIL acquired during the year ended December 31, 2021: Property Name Date Committed Maturity Date Initial Principal Funding Total Commitment Hope on Avalon - taxable GIL January 2021 2/1/2023 (1) $ 1,000,000 $ 10,573,000 Residency at the Mayer Series A-T - taxable MRB October 2021 4/1/2024 (2) 1,000,000 12,500,000 $ 23,073,000 (1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. (2) The borrower may elect to extend the maturity date six months if stabilization has not occurred, subject to the Partnership's approval.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Summary of Partnership's Accounts Payable, Accrued Expenses and Other Liabilities	The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Accounts payable $ 1,244,918 $ 1,234,111 Accrued expenses 4,888,438 4,102,381 Accrued interest expense 7,186,021 4,229,119 Operating lease liabilities - 2,151,991 Deferred gain on sale of MF Property 6,596,622 - Other liabilities 1,817,507 1,946,610 Total accounts payable, accrued expenses and other liabilities $ 21,733,506 $ 13,664,212

Secured Line of Credit (Tables)

Secured Line of Credit (Tables)	12 Months Ended
Secured Line of Credit (Tables)	Dec. 31, 2022
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Summary of Lines of Credit	The following table summarizes the secured lines of credit as of December 31, 2022 and 2021: Secured Lines of Credit Outstanding as of December 31, 2022 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 7.42 % Bankers Trust Acquisition LOC 49,000,000 50,000,000 June 2024 (3) Variable (4) Monthly 6.68 % $ 55,500,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The secured credit agreement contains terms for selecting an alternative index if LIBOR is no longer available. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). Secured Lines of Credit Outstanding as of December 31, 2021 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 6,500,000 $ 40,000,000 June 2023 (1) Variable (2) Monthly 3.50 % Bankers Trust Acquisition LOC 39,214,000 50,000,000 June 2023 Variable (3) Monthly 3.10 % $ 45,714,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. (3) The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets.

Debt Financing (Tables)

Debt Financing (Tables)	12 Months Ended
Debt Financing (Tables)	Dec. 31, 2022
Debt Financing [Abstract]
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of December 31, 2022 and 2021: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 75,570,121 $ 4,999 2024 Variable Yes 3.69 % 1.55 % 5.24 % M24 TEBS 7,489,619 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 29,549,954 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 211,914,923 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 324,524,617 4.08 % Secured Notes $ 102,488,160 35,979,743 2025 Variable No N/A N/A 13.05 % (5) TOB Trust Securitizations Mizuho Capital Markets: Montevista - Series A $ 5,650,044 (6) 2023 Variable Yes 3.86 % 1.27 % 5.13 % Trust 2020-XF2908 (7) 43,472,232 (6) 2023 Variable No 4.57 % 0.89 % 5.46 % Hope on Avalon GIL 18,695,484 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Hope on Broadway GIL 9,670,809 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Ocotillo Springs - Series A 9,978,639 (6) 2023 Variable Yes 3.86 % 0.91 % 4.77 % Jackson Manor Apartments 5,859,141 (6) 2023 Variable Yes 3.88 % 1.29 % 5.17 % Trust 2021-XF2926 (8) 70,402,736 (6) 2024 Variable No 4.57 % 0.89 % 5.46 % Trust 2021-XF2939 (9) 7,341,558 (6) 2024 Variable No 4.57 % 1.16 % 5.73 % Scharbauer Flats GIL 36,000,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Oasis at Twin Lakes GIL 30,600,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Centennial Crossing GIL 29,772,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Residency at the Mayer - Series A 21,450,000 (6) 2024 Variable Yes 3.86 % 1.19 % 5.05 % Montecito at Williams Ranch - Series A 6,872,074 (6) 2025 Variable Yes 3.62 % 1.17 % 4.79 % Vineyard Gardens - Series A 3,592,692 (6) 2025 Variable Yes 3.67 % 1.17 % 4.84 % The Park at Sondrio - Series 2022A 30,354,275 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % The Park at Vietti - Series 2022A 21,489,569 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % Avistar at Copperfield - Series A 11,501,641 (6) 2025 Variable Yes 3.80 % 1.67 % 5.47 % Avistar at Wilcrest - Series A 4,350,640 (6) 2025 Variable Yes 3.88 % 1.67 % 5.55 % Residency at the Entrepreneur MRBs 16,513,817 (6) 2025 Variable No 4.57 % 1.18 % 5.75 % Legacy Commons at Signal Hills & Hilltop at Signal Hills GILs 53,160,000 (6) 2025 Variable Yes 3.88 % 0.91 % 4.79 % Osprey Village GIL 32,905,000 (6) 2025 Variable Yes 3.88 % 1.19 % 5.07 % Avistar at Wood Hollow - Series A 33,092,580 (6) 2027 Variable Yes 3.88 % 1.44 % 5.32 % Live 929 53,092,000 (6) 2027 Variable Yes 3.88 % 1.18 % 5.06 % Barclays Capital Inc.: Trust 2021-XF2953 (10) 46,548,777 - 2023 Variable No 4.42 % 1.27 % 5.69 % Poppy Grove I GIL 6,258,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove II GIL 3,614,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove III GIL 6,821,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Subtotal/Weighed Average Period End Rate 619,060,166 5.19 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,831,009 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,058,903,952 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.25 % plus SOFR which resets monthly. The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.80 % as of December 31, 2022. See Note 17 for further information on the total return swap. (6) The Partnership has restricted cash totaling approximately $ 38,000 related to its total net position with Mizuho Capital Markets. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan, Hilltop at Signal Hills property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer taxable MRB, Ocotillo Springs taxable MRB, and Osprey Village property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) 76,964,051 4,999 2024 Variable Yes 0.13 % 1.32 % 1.45 % M24 TEBS $ 35,551,762 $ 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 30,191,051 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 213,931,752 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 356,638,616 3.19 % Secured Notes 102,798,158 77,531,264 2025 Variable N/A N/A N/A 9.20 % (5) TOB Trust Securitizations Mizuho Capital Markets: Ocotillo Springs - Series A 13,482,312 - 2022 Variable Yes 0.23 % 0.89 % 1.12 % Live 929 Apartments - Series A $ 31,564,286 - 2023 Variable Yes 0.23 % 1.66 % 1.89 % Montecito at Williams Ranch - Series A 6,919,404 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Montevista - Series A 5,674,091 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Vineyard Gardens - Series A 3,590,598 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Avistar at Copperfield - Series A 11,617,039 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wilcrest - Series A 4,392,032 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wood Hollow - Series A 33,446,044 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Gateway Village 2,177,527 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Lynnhaven Apartments 2,891,534 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Trust 2020-XF2907 (6) 96,297,732 - 2023 Variable No 0.18 % 0.89 % 1.07 % Trust 2020-XF2908 (7) 18,845,580 - 2023 Variable No 0.18 % 0.89 % 1.07 % Hope on Avalon GIL 7,931,925 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Hope on Broadway GIL 2,919,748 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Jackson Manor Apartments 4,133,705 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Trust 2021-XF2926 (8) 71,519,933 - 2024 Variable No 0.18 % 0.89 % 1.07 % Trust 2021-XF2939 (9) 27,183,562 - 2024 Variable No 0.18 % 1.16 % 1.34 % Barclays Capital Inc.: Trust 2021-XF-2953 (10) 3,139,698 - 2022 Variable No 0.14 % 1.27 % 1.41 % Subtotal/Weighed Average Period End Rate 347,726,750 1.35 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,915,190 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 820,078,714 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.00 % plus LIBOR which resets monthly. The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps. (6) The TOB trust is securitized by the Scharbauer Flats Apartments, Oasis at Twin Lakes, and Centennial Crossings GILs. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, the Hilltop at Signal Hills GIL and property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer MRB and taxable MRB, the Ocotillo Springs taxable MRB, and the Osprey Village GIL and property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan.
Schedule of Contractual Maturities of Borrowings	The Partnership’s contractual maturities of borrowings for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: 2023 $ 162,790,816 2024 294,026,151 2025 286,713,546 2026 3,992,863 2027 88,291,325 Thereafter 225,691,693 Total 1,061,506,394 Unamortized deferred financing costs and debt premium ( 2,602,442 ) Total debt financing, net $ 1,058,903,952

Mortgages Payable and Other S_2

Mortgages Payable and Other Secured Financing (Tables)	12 Months Ended
Mortgages Payable and Other Secured Financing (Tables)	Dec. 31, 2022
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of December 31, 2022 and 2021: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 75,570,121 $ 4,999 2024 Variable Yes 3.69 % 1.55 % 5.24 % M24 TEBS 7,489,619 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 29,549,954 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 211,914,923 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 324,524,617 4.08 % Secured Notes $ 102,488,160 35,979,743 2025 Variable No N/A N/A 13.05 % (5) TOB Trust Securitizations Mizuho Capital Markets: Montevista - Series A $ 5,650,044 (6) 2023 Variable Yes 3.86 % 1.27 % 5.13 % Trust 2020-XF2908 (7) 43,472,232 (6) 2023 Variable No 4.57 % 0.89 % 5.46 % Hope on Avalon GIL 18,695,484 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Hope on Broadway GIL 9,670,809 (6) 2023 Variable Yes 3.86 % 1.44 % 5.30 % Ocotillo Springs - Series A 9,978,639 (6) 2023 Variable Yes 3.86 % 0.91 % 4.77 % Jackson Manor Apartments 5,859,141 (6) 2023 Variable Yes 3.88 % 1.29 % 5.17 % Trust 2021-XF2926 (8) 70,402,736 (6) 2024 Variable No 4.57 % 0.89 % 5.46 % Trust 2021-XF2939 (9) 7,341,558 (6) 2024 Variable No 4.57 % 1.16 % 5.73 % Scharbauer Flats GIL 36,000,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Oasis at Twin Lakes GIL 30,600,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Centennial Crossing GIL 29,772,000 (6) 2024 Variable Yes 3.88 % 0.91 % 4.79 % Residency at the Mayer - Series A 21,450,000 (6) 2024 Variable Yes 3.86 % 1.19 % 5.05 % Montecito at Williams Ranch - Series A 6,872,074 (6) 2025 Variable Yes 3.62 % 1.17 % 4.79 % Vineyard Gardens - Series A 3,592,692 (6) 2025 Variable Yes 3.67 % 1.17 % 4.84 % The Park at Sondrio - Series 2022A 30,354,275 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % The Park at Vietti - Series 2022A 21,489,569 (6) 2025 Variable Yes 3.88 % 1.43 % 5.31 % Avistar at Copperfield - Series A 11,501,641 (6) 2025 Variable Yes 3.80 % 1.67 % 5.47 % Avistar at Wilcrest - Series A 4,350,640 (6) 2025 Variable Yes 3.88 % 1.67 % 5.55 % Residency at the Entrepreneur MRBs 16,513,817 (6) 2025 Variable No 4.57 % 1.18 % 5.75 % Legacy Commons at Signal Hills & Hilltop at Signal Hills GILs 53,160,000 (6) 2025 Variable Yes 3.88 % 0.91 % 4.79 % Osprey Village GIL 32,905,000 (6) 2025 Variable Yes 3.88 % 1.19 % 5.07 % Avistar at Wood Hollow - Series A 33,092,580 (6) 2027 Variable Yes 3.88 % 1.44 % 5.32 % Live 929 53,092,000 (6) 2027 Variable Yes 3.88 % 1.18 % 5.06 % Barclays Capital Inc.: Trust 2021-XF2953 (10) 46,548,777 - 2023 Variable No 4.42 % 1.27 % 5.69 % Poppy Grove I GIL 6,258,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove II GIL 3,614,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Poppy Grove III GIL 6,821,486 - 2023 Variable Yes 3.81 % 1.25 % 5.06 % Subtotal/Weighed Average Period End Rate 619,060,166 5.19 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,831,009 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,058,903,952 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.25 % plus SOFR which resets monthly. The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.80 % as of December 31, 2022. See Note 17 for further information on the total return swap. (6) The Partnership has restricted cash totaling approximately $ 38,000 related to its total net position with Mizuho Capital Markets. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan, Hilltop at Signal Hills property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer taxable MRB, Ocotillo Springs taxable MRB, and Osprey Village property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) 76,964,051 4,999 2024 Variable Yes 0.13 % 1.32 % 1.45 % M24 TEBS $ 35,551,762 $ 204,000 2027 Fixed Yes N/A N/A 3.05 % M33 TEBS 30,191,051 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS (4) 213,931,752 5,000 2034 Fixed Yes N/A N/A 3.82 % Subtotal/Weighed Average Period End Rate 356,638,616 3.19 % Secured Notes 102,798,158 77,531,264 2025 Variable N/A N/A N/A 9.20 % (5) TOB Trust Securitizations Mizuho Capital Markets: Ocotillo Springs - Series A 13,482,312 - 2022 Variable Yes 0.23 % 0.89 % 1.12 % Live 929 Apartments - Series A $ 31,564,286 - 2023 Variable Yes 0.23 % 1.66 % 1.89 % Montecito at Williams Ranch - Series A 6,919,404 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Montevista - Series A 5,674,091 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Vineyard Gardens - Series A 3,590,598 - 2023 Variable Yes 0.23 % 1.17 % 1.40 % Avistar at Copperfield - Series A 11,617,039 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wilcrest - Series A 4,392,032 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Avistar at Wood Hollow - Series A 33,446,044 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Gateway Village 2,177,527 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Lynnhaven Apartments 2,891,534 - 2023 Variable Yes 0.30 % 1.67 % 1.97 % Trust 2020-XF2907 (6) 96,297,732 - 2023 Variable No 0.18 % 0.89 % 1.07 % Trust 2020-XF2908 (7) 18,845,580 - 2023 Variable No 0.18 % 0.89 % 1.07 % Hope on Avalon GIL 7,931,925 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Hope on Broadway GIL 2,919,748 - 2023 Variable Yes 0.23 % 1.42 % 1.65 % Jackson Manor Apartments 4,133,705 - 2023 Variable Yes 0.23 % 1.27 % 1.50 % Trust 2021-XF2926 (8) 71,519,933 - 2024 Variable No 0.18 % 0.89 % 1.07 % Trust 2021-XF2939 (9) 27,183,562 - 2024 Variable No 0.18 % 1.16 % 1.34 % Barclays Capital Inc.: Trust 2021-XF-2953 (10) 3,139,698 - 2022 Variable No 0.14 % 1.27 % 1.41 % Subtotal/Weighed Average Period End Rate 347,726,750 1.35 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,915,190 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 820,078,714 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. (4) The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. (5) The Secured Notes have a stated rate of 9.00 % plus LIBOR which resets monthly. The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25 % for approximately $ 39.6 million of the Secured Notes and 1.00 % for approximately $ 63.5 million of the Secured Notes as of December 31, 2021. See Note 17 for further information on the total return swaps. (6) The TOB trust is securitized by the Scharbauer Flats Apartments, Oasis at Twin Lakes, and Centennial Crossings GILs. (7) The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. (8) The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, the Hilltop at Signal Hills GIL and property loan, Hope on Avalon (9) The TOB trust is securitized by the Residency at the Mayer MRB and taxable MRB, the Ocotillo Springs taxable MRB, and the Osprey Village GIL and property loan. (10) The TOB trust is securitized by the Willow Place GIL and property loan.
Mortgages payable [Member]
Schedule of Total Debt Financing	The following is a summary of the mortgages payable and other secured financing, net of deferred financing costs, as of December 31, 2022 and 2021: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End The 50/50 MF Property--TIF Loan $ - $ 2,174,453 2020 March 2025 Fixed n/a The 50/50 MF Property--Mortgage - 22,960,090 2020 April 2027 Fixed n/a Vantage at San Marcos--Mortgage (1) 1,690,000 1,690,000 2020 November 2023 Variable 8.25 % Total Mortgage Payable\Weighted $ 1,690,000 $ 26,824,543 8.25 % (1) The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
Derivative Instruments (Tables)	Dec. 31, 2022
Interest Rate Swaption [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	The following table summarizes the Partnership's interest rate swap agreements as of December 31, 2022: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Period End Variable Rate Received Variable Rate Index Variable Debt (1) Counterparty Fair Value as of February 2022 55,990,000 2/9/2022 2/1/2024 1.40 % 4.09 % Compounded SOFR TOB Trusts Mizuho Capital Markets $ 2,205,130 March 2022 47,850,000 3/3/2022 3/1/2027 1.65 % 4.09 % Compounded SOFR TOB Trusts Mizuho Capital Markets 4,048,961 October 2022 34,436,088 (2) 4/1/2023 4/1/2025 3.92 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 131,427 December 2022 10,880,000 (3) 1/1/2023 12/1/2029 3.27 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 370,342 December 2022 45,500,000 1/3/2023 1/1/2030 3.47 % N/A Compounded SOFR TOB Trusts Mizuho Capital Markets 443,339 194,656,088 $ 7,199,199 (1) See Notes 15 and 23 for additional details . (2) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million. (3) The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 47.8 million.
Total Return Swaps [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	The following table summarizes the terms of the Partnership’s total return swaps as of December 31, 2022 and 2021: Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of December 2022 102,690,670 December 2022 Sept 2025 7.80 % (1) 13.05 % (2) SOFR Mizuho Capital Markets $ 239,612 $ 239,612 (1) Variable rate equal to SOFR + 4.00 %, subject to an all-in floor of 4.25 %. (2) Variable rate equal to SOFR + 9.25 %. Trade Date Notional Effective Termination Date Period End Period End Variable Rate Counterparty Fair Value as of September 2020 39,607,744 September 2020 Sept 2025 4.25 % (1) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets $ 77,061 September 2020 63,500,000 September 2020 Mar 2022 1.00 % (2) 9.20 % (3) 3-month LIBOR Mizuho Capital Markets 215,267 $ 292,328 (1) Variable rate equal to 3-month LIBOR + 3.75 %, subject to a floor of 4.25 % . (2) Variable rate equal to 3-month LIBOR + 0.50 %, subject to a floor of 1.00 %. (3) Variable rate equal to 3-month LIBOR + 9.00 % .
Interest Rate Cap Agreements [Member]
Derivative [Line Items]
Summary of Partnership's Derivative Instruments	Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 75,014,903 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 91,627 $ 91,627 (1) See Notes 15 and 23 for additional details. Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 76,544,336 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 51,090 $ 51,090 (1) See Notes 15 and 23 for additional details . In January 2023, the Partnership entered into two additional interest rate swap agreements to mitigate interest rate risk associated with the variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreements: Purchase Date Notional Amount Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty January 2023 $ 12,065,200 1/19/2023 1/1/2030 3.354 % Compounded SOFR TOB Trusts Mizuho Capital Markets January 2023 $ 8,027,600 2/1/2023 2/1/2030 3.289 % Compounded SOFR TOB Trusts Mizuho Capital Markets

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of Partnership's Bond Purchase Commitments	The following table summarizes the Partnership’s bond purchase commitments as of December 31, 2022: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of CCBA Senior Garden Apartments July 2020 $ - 4.50 % June 2022 (1) $ - $ 495,784 Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 98,929 468,620 $ 3,900,000 $ 98,929 $ 964,404 (1) The closing date is actual.
Summary of Partnership's Total and Remaining Commitments	The following table summarizes the Partnership's total and remaining commitments as of December 31, 2022: Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Residency at the Mayer - Series A October 2021 April 2039 SOFR + 3.60 % $ 29,500,000 $ 3,500,000 Meadow Valley December 2021 December 2029 6.25 % 44,000,000 39,276,563 Residency at the Entrepreneur- Series J-3 April 2022 March 2040 6.00 % 26,080,000 22,180,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 16,420,000 Residency at Empire - Series BB-3 December 2022 December 2040 6.45 % (4) 14,000,000 13,945,000 Residency at Empire - Series BB-4 December 2022 December 2040 6.45 % (5) 47,000,000 47,000,000 Subtotal 177,000,000 142,321,563 Taxable Mortgage Revenue Bonds Residency at the Mayer Series A-T October 2021 April 2024 (3) SOFR + 3.70 % $ 12,500,000 $ 11,500,000 Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % 13,000,000 12,000,000 Residency at Empire - Series BB-T December 2022 December 2025 (3) 7.45 % 9,404,500 8,404,500 Subtotal 34,904,500 31,904,500 Governmental Issuer Loans Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 60,000,000 20,106,960 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 25,000,000 7,645,528 Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 27,842,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 17,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 30,569,507 Subtotal 182,057,835 103,873,023 Taxable Governmental Issuer Loans Hope on Avalon January 2021 August 2023 SOFR + 3.55 % $ 10,573,000 $ 5,573,000 Poppy Grove I September 2022 April 2025 (3) 6.78 % 21,157,672 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 67,152,465 59,152,465 Property Loans Oasis at Twin Lakes July 2020 August 2023 (3) LIBOR + 2.50 % $ 27,704,180 $ 3,685,523 Hilltop at Signal Hills January 2021 August 2023 (3) SOFR + 3.07 % 21,197,939 1,479,605 Legacy Commons at Signal Hills January 2021 February 2024 (3) SOFR + 3.07 % 32,233,972 2,567,067 Osprey Village July 2021 August 2024 (3) SOFR + 3.07 % 25,500,000 24,500,000 Willow Place Apartments September 2021 October 2024 (3) SOFR + 3.30 % 21,351,328 20,351,328 Magnolia Heights June 2022 July 2024 (3) SOFR + 3.85 % 10,300,000 4,111,399 Subtotal 138,287,419 56,694,922 Equity Investments Vantage at San Marcos (6), (7) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Freestone Greeley (7) October 2022 N/A N/A 16,035,710 11,325,008 Freestone Cresta Bella (7) November 2022 N/A N/A 16,405,514 10,204,191 Subtotal 42,355,753 30,473,113 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (8) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 645,657,972 $ 428,319,586 (1) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) Beginning December 2029 , the interest rate will change to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. (5) Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. (6) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 5). (7) A development site has been identified for this property but construction had not commenced as of December 31, 2022. (8) This is the estimated closing date of the associated bond purchase commitment.
Summary of Partnership's Maximum Exposure Under Guarantee Agreements	The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of December 31, 2022: Borrower Guaranty Maturity Maximum Balance Loan Partnership's Maximum Exposure Guaranty Vantage at Stone Creek 2023 $ 34,222,000 $ 34,222,000 $ 17,111,000 (1) Vantage at Coventry 2023 34,536,000 34,536,000 17,268,000 (1) (1) The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of December 31, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of December 31, 2022: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 2,310,609 Greens of Pine Glen, LP 2027 1,662,397 Borrower End of Guaranty Period Partnership's Maximum Exposure The 50/50 MF Property--TIF Loan 2025 $ 1,809,510 The 50/50 MF Property--Mortgage 2027 22,419,849

Redeemable Preferred Units (Tab

Redeemable Preferred Units (Tables)	12 Months Ended
Redeemable Preferred Units (Tables)	Dec. 31, 2022
Temporary Equity Disclosure [Abstract]
Summary of Issuances of Preferred Units	The following table summarizes the outstanding Preferred Units as of December 31, 2022 and 2021: December 31, 2022 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2024 (1) December 2016 700,000 7,000,000 3.00 % 10.00 December 2023 (1) March 2017 1,000,000 10,000,000 3.00 % 10.00 March 2024 (1) August 2017 2,000,000 20,000,000 3.00 % 10.00 August 2023 (2) October 2017 1,750,000 17,500,000 3.00 % 10.00 October 2023 Total Series A Preferred Units 6,450,000 64,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % 10.00 April 2028 October 2022 1,000,000 10,000,000 3.00 % 10.00 October 2028 Total Series A-1 Preferred Units 3,000,000 30,000,000 Redeemable Preferred Units 9,450,000 $ 94,500,000 (1) The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. (2) In February 2023, the holder provided notice of its intent to redeem its Series A Preferred Units in August 2023. December 31, 2021 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 May 2016 1,386,900 13,869,000 3.00 % 10.00 September 2016 1,000,000 10,000,000 3.00 % 10.00 December 2016 700,000 7,000,000 3.00 % 10.00 March 2017 1,613,100 16,131,000 3.00 % 10.00 August 2017 2,000,000 20,000,000 3.00 % 10.00 October 2017 1,750,000 17,500,000 3.00 % 10.00 Redeemable Preferred Units 9,450,000 $ 94,500,000

Restricted Unit Awards (Tables)

Restricted Unit Awards (Tables)	12 Months Ended
Restricted Unit Awards (Tables)	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of RUA Activity	The following table summarizes the RUA activity for years ended December 31, 2022 and 2021 (all amounts are presented giving effect to the one-for-three Reverse Unit Split which became effective on April 1, 2022): Restricted Units Weighted average Unvested as of January 1, 2021 44,271 $ 14.94 Granted 88,775 19.47 Vested ( 55,523 ) 17.67 Unvested as of December 31, 2021 77,523 18.18 Granted 96,321 19.33 Vested ( 81,073 ) 18.26 Forfeited ( 5,437 ) 18.76 Unvested as of December 31, 2022 87,334 $ 19.33

Transactions with Related Par_2

Transactions with Related Parties (Tables)	12 Months Ended
Transactions with Related Parties (Tables)	Dec. 31, 2022
Related Party Transactions [Abstract]
Summary of Amounts Reimbursable to AFCA 2, the General Partner of AFCA 2, or an Affiliate	The amounts in the following table represent amounts reimbursable to AFCA 2, the general partner of AFCA 2, or an affiliate for the years ended December 31, 2022 and 2021 and are reported within “General and administrative expenses” in the Partnership’s consolidated statements of operations: 2022 2021 Reimbursable salaries and benefits $ 5,763,496 $ 4,866,841 Other expenses 77,383 50,712 Office expenses 269,722 250,785 Insurance 515,245 408,688 Professional fees and expenses 181,821 105,500 Consulting and travel expenses 19,381 - $ 6,827,048 $ 5,682,526
Summary of Transactions with Related Parties Reflected on the Partnership's Consolidated Financial Statements	The following table summarizes transactions with related parties that are reflected on the Partnership’s consolidated financial statements for the years ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Partnership administrative fees paid to AFCA 2 (1) $ 5,200,000 $ 4,046,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 328,000 156,000 Referral fees paid to an affiliate (3) 240,607 224,750 (1) AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2023, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond origination costs that are deferred and amortized as a yield adjustment to the related investment asset.
Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates	For the Years Ended December 31, 2022 2021 Non-Partnership property administrative fees received by AFCA 2 (1) $ 26,000 $ 35,000 Investment/mortgage placement fees earned by AFCA 2 (2) 5,487,000 7,311,000 (1) AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. (2) AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
Fair Value of Financial Instruments (Tables)	Dec. 31, 2022
Fair Value Measurements [Abstract]
Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments	The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of December 31, 2022 and 2021 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Mortgage revenue bonds 2.6 % - 20.3 % 0.9 % - 19.1 % 5.1 % 3.1 % Taxable mortgage revenue bonds 6.5 % - 11.4 % 4.0 % - 8.1 % 7.6 % 5.9 % Bond purchase commitments 4.5 % 3.2 % - 3.3 % 4.5 % 3.2 % (1) Weighted by the total principal outstanding of all the respective securities as of the reporting date .
Summary of Assets Measured at Fair Value on Recurring Basis	Assets measured at fair value on a recurring basis as of December 31, 2022 are summarized as follows: Fair Value Measurements as of December 31, 2022 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 763,208,945 $ - $ - $ 763,208,945 Mortgage revenue bonds 36,199,059 - - 36,199,059 Bond purchase commitments (reported within other assets) 98,929 - - 98,929 Taxable mortgage revenue bonds (reported within other assets) 16,531,896 - - 16,531,896 Derivative financial instruments (reported within other assets) 7,530,438 - 7,199,198 331,240 Total Assets at Fair Value, net $ 823,569,267 $ - $ 7,199,198 $ 816,370,069 Assets measured at fair value on a recurring basis as of December 31, 2021 are summarized as follows: Fair Value Measurements as of December 31, 2021 Description Assets Quoted Prices in Significant Other Significant Assets Mortgage revenue bonds, held in trust $ 750,934,848 $ - $ - $ 750,934,848 Mortgage revenue bonds 42,574,996 - - 42,574,996 Bond purchase commitments (reported within other assets) 964,404 964,404 Taxable mortgage revenue bonds (reported within other assets) 3,428,443 - - 3,428,443 Derivative instruments (reported within other assets) 343,418 - - 343,418 Total Assets at Fair Value, net $ 798,246,109 $ - $ - $ 798,246,109
Summary of Activity Related to Level 3 Assets and Liabilities	The following table summarizes the activity related to Level 3 assets and liabilities for the year ended December 31, 2022: For the Year ended December 31, 2022 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance January 1, 2022 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 1,958,135 - ( 20,028 ) 5,756,111 7,694,218 Included in other comprehensive income ( 68,890,753 ) ( 865,475 ) ( 535,793 ) - ( 70,292,021 ) Purchases 182,726,187 - 13,669,857 - 196,396,044 Settlements ( 109,034,876 ) - ( 10,583 ) ( 5,768,289 ) ( 114,813,748 ) Other (2) ( 860,533 ) - - - ( 860,533 ) Ending Balance December 31, 2022 $ 799,408,004 $ 98,929 $ 16,531,896 $ 331,240 $ 816,370,069 Total amount of gains for the $ 57,124 $ - $ - $ 40,538 $ 97,662 (1) Mortgage revenue bonds include both bonds held in trust as well as those held by the Partnership. (2) The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10) . The following table summarizes the activity related to Level 3 assets and liabilities for the year ended December 31, 2021: For the Years Ended December 31, 2021 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance January 1, 2021 $ 794,432,485 $ 431,879 $ 1,510,437 $ 321,503 $ 796,696,304 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 137,520 - - 7,126,226 7,263,746 Included in earnings (provision for credit loss) ( 1,856,893 ) - - - ( 1,856,893 ) Included in other comprehensive income ( 19,013,953 ) 532,525 ( 72,319 ) - ( 18,553,747 ) Purchases 69,672,500 - 2,000,000 - 71,672,500 Settlements ( 49,861,815 ) - ( 9,675 ) ( 7,104,311 ) ( 56,975,801 ) Ending Balance December 31, 2021 $ 793,509,844 $ 964,404 $ 3,428,443 $ 343,418 $ 798,246,109 Total amount of losses for the $ ( 1,856,893 ) $ - $ - $ 23,214 $ ( 1,833,679 ) (1) Mortgage revenue bonds include both bonds held in trust as well as those held by the Partnership.
Summary of Fair Value of Partnership's Financial Liabilities	The table below summarizes the fair value of the Partnership’s financial liabilities as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 1,058,903,952 $ 1,059,674,409 $ 820,078,714 $ 854,428,834 Secured lines of credit 55,500,000 55,500,000 45,714,000 45,714,000 Mortgages payable and other secured financing 1,690,000 1,690,000 26,824,543 26,825,840

Segments (Tables)

Segments (Tables)	12 Months Ended
Segments (Tables)	Dec. 31, 2022
Segment Reporting [Abstract]
Summary of Partnership Reportable Segment Information	The following table details certain financial information for the Partnership’s reportable segments for the year ended December 31, 2022 and 2021: For the Years Ended December 31, 2022 2021 Total revenues Affordable Multifamily MRB Investments $ 63,374,549 $ 46,198,552 Seniors and Skilled Nursing MRB Investments 713,036 77,979 Market-Rate Joint Venture Investments 9,130,486 14,967,102 MF Properties 7,855,506 7,208,661 Total revenues $ 81,073,577 $ 68,452,294 Interest expense Affordable Multifamily MRB Investments $ 28,544,715 $ 20,382,143 Seniors and Skilled Nursing MRB Investments 5,750 - Market-Rate Joint Venture Investments 870,497 428,018 MF Properties 1,043,489 1,133,724 Total interest expense $ 30,464,451 $ 21,943,885 Depreciation expense Affordable Multifamily MRB Investments $ 23,846 $ 23,495 Seniors and Skilled Nursing MRB Investments - - Market-Rate Joint Venture Investments - - MF Properties 2,693,569 2,709,427 Total depreciation expense $ 2,717,415 $ 2,732,922 Net income (loss) Affordable Multifamily MRB Investments $ 17,330,756 $ 8,619,813 Seniors and Skilled Nursing MRB Investments 704,994 72,020 Market-Rate Joint Venture Investments 48,054,241 30,055,826 MF Properties ( 527,825 ) ( 648,171 ) Net income $ 65,562,166 $ 38,099,488 The following table details total assets for the Partnership’s reportable segments as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Total assets Affordable Multifamily MRB Investments $ 1,520,609,550 $ 1,304,626,248 Seniors and Skilled Nursing MRB Investments 3,551,307 13,533,020 Market-Rate Joint Venture Investments 120,089,351 112,052,513 MF Properties 41,699,828 66,501,994 Consolidation/eliminations ( 118,820,471 ) ( 110,804,292 ) Total assets $ 1,567,129,565 $ 1,385,909,483

Summary of Unaudited Quarterl_2

Summary of Unaudited Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	2022 March 31, June 30, September 30, December 31, Total revenues $ 19,206,371 $ 17,232,967 $ 22,604,404 $ 22,029,835 Other income - gains 16,439,750 12,643,501 10,580,781 141,253 Income from continuing operations 26,264,018 17,606,681 18,516,593 3,174,874 Net income $ 26,264,018 $ 17,606,681 $ 18,516,593 $ 3,174,874 Income from continuing operations, per BUC $ 1.01 $ 0.74 $ 0.78 $ 0.09 Net income, basic and diluted, per BUC $ 1.01 $ 0.74 $ 0.78 $ 0.09 2021 March 31, June 30, September 30, December 31, Total revenues $ 14,387,488 $ 16,406,496 $ 17,681,901 $ 19,976,409 Other income - gains and loss, net 2,809,106 5,463,484 6,954,649 278,710 Income from continuing operations 6,992,854 10,264,680 12,988,384 7,853,570 Net income $ 6,992,854 $ 10,264,680 $ 12,988,384 $ 7,853,570 Income from continuing operations, per BUC $ 0.27 $ 0.39 $ 0.56 $ 0.31 Net income, basic and diluted, per BUC $ 0.27 $ 0.39 $ 0.56 $ 0.31

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
Subsequent Events (Tables)	Dec. 31, 2022
Subsequent Event [Line Items]
Schedule of terms of partnership's MRB and taxable MRB investments	The following table summarizes the terms of the Partnership’s MRB and taxable MRB investments: Property Name Month Property Location Units Maturity Date Interest Rate Principal Funded Windsor Shores Apartments - MRB January Columbia, SC 176 2/1/2030 6.50 % $ 21,545,000 Windsor Shores Apartments - taxable MRB January Columbia, SC 176 2/1/2030 6.50 % 805,000 The Ivy Apartments - MRB January Greenville, SC 212 2/1/2030 6.50 % 30,500,000 $ 52,850,000
Summary of Securitized Assets and Initial Terms of TOB Trust Financings	The following table summarizes the securitized assets and the initial terms of the TOB trust financings: TOB Trusts Securitization TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Remarketing Senior Securities Rate Facility Fees Interest Rate Residency at Empire MRBs $ 14,400,000 January 2026 Variable Yes 3.38 % 1.42 % 4.80 % Windsor Shores Apartments MRB 17,236,000 January 2026 Variable Yes 2.11 % 1.44 % 3.55 % SoLa Impact Opportunity Zone Fund loan 27,300,000 December 2024 Variable No 4.57 % 1.78 % 6.35 % The Ivy Apartments MRB 24,400,000 February 2028 Variable Yes 3.99 % 1.44 % 5.43 % Total TOB Trust Financing $ 83,336,000
Schedule of MRBs Redeemed	The following MRBs were redeemed at prices that approximated the Partnership's carrying value plus accrued interest during the year ended December 31, 2022: Property Name Month Property Location Units Original Interest Rate Principal Ohio Properties - Series A March (1) 362 6/1/2050 7.00 % $ 13,544,000 Ohio Properties - Series B March (1) 362 6/1/2050 10.00 % 3,459,840 Bridle Ridge May Greer, SC 152 1/1/2043 6.00 % 7,100,000 Cross Creek September Beaufort, SC 144 3/1/2049 6.15 % 7,666,752 Gateway Village October Durham, NC 64 4/1/2032 6.10 % 2,589,163 Lynnhaven Apartments October Durham, NC 75 4/1/2032 6.10 % 3,435,621 $ 37,795,376 (1) The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. The following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest , except as noted below, during the year ended December 31, 2021: Property Name Month Property Location Units Original Interest Rate Principal Arby Road Apartments - Series A (1) March Las Vegas, NV 180 10/1/2027 5.35 % $ 1,600,000 Arby Road Apartments - Series A (1) March Las Vegas, NV 180 4/1/2041 5.50 % 5,785,000 Rosewood Townhomes - Series A July Goose Creek, SC 100 7/1/2055 5.75 % 9,259,206 Rosewood Townhomes - Series B July Goose Creek, SC 100 8/1/2055 12.00 % 469,781 South Pointe Apartments - Series A July Hanahan, SC 256 7/1/2055 5.75 % 21,551,600 South Pointe Apartments - Series B July Hanahan, SC 256 8/1/2055 12.00 % 1,099,487 Woodlynn Village November Maplewood, MN 59 11/1/2042 6.00 % 4,065,000 $ 43,830,074 (1) Both MRBs are part of the same series but had different interest rates and maturity dates. In February 2023, the following MRBs were redeemed at prices that approximated the Partnership’s carrying value plus accrued interest: Property Name Month Property Location Units Original Interest Rate Principal Greens Property - Series A February 2023 Durham, NC 168 10/1/2047 6.50 % $ 7,579,000 Greens Property - Series B February 2023 Durham, NC 168 10/1/2047 12.00 % $ 914,040 $ 8,493,040
Interest Rate Cap Agreements [Member]
Subsequent Event [Line Items]
Summary of Partnership's Derivative Instruments	Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 75,014,903 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 91,627 $ 91,627 (1) See Notes 15 and 23 for additional details. Purchase Date Notional Amount Maturity Effective (1) Index Variable Debt (1) Counterparty Fair Value as of August 2019 76,544,336 Aug 2024 4.5 % SIFMA M31 TEBS Barclays Bank PLC $ 51,090 $ 51,090 (1) See Notes 15 and 23 for additional details . In January 2023, the Partnership entered into two additional interest rate swap agreements to mitigate interest rate risk associated with the variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreements: Purchase Date Notional Amount Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty January 2023 $ 12,065,200 1/19/2023 1/1/2030 3.354 % Compounded SOFR TOB Trusts Mizuho Capital Markets January 2023 $ 8,027,600 2/1/2023 2/1/2030 3.289 % Compounded SOFR TOB Trusts Mizuho Capital Markets

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	12 Months Ended
Basis of Presentation - Additional Information (Details)	Dec. 31, 2022 Rating
Tax-exempt and Other Investments
Segment Reporting Information [Line Items]
Assets percentage	25%
Maximum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	4
Minimum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)				1 Months Ended	12 Months Ended
	Dec. 19, 2022 $ / shares	Sep. 14, 2022 $ / shares	Apr. 01, 2022 shares	Feb. 23, 2023	Dec. 31, 2022 USD ($) Property $ / shares shares	Jan. 31, 2023 $ / shares	Oct. 31, 2022	Sep. 30, 2022 $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Jan. 01, 2019
Summary Of Significant Accounting Policies [Line Items]
Ownership interest percentage in MF property					100%
Increase in short-term interest rates in basis points					4.25%
Supplemental distribution payable					$ 1.709				$ 1.469
Cash, FDIC Insured Amount \| $					$ 250,000
Allowance for loan loss \| $					495,000				$ 8,749,348	$ 8,305,046
Operating leases, right-of-use assets \| $					$ 0				$ 1,619,714
Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase in short-term interest rates in basis points				0.25%
Beneficial Unit Certificates [Member]
Summary Of Significant Accounting Policies [Line Items]
Stockholders' Equity, Reverse Stock Split					On April 1, 2022, the Partnership effected a one-for-three reverse unit split (“Reverse Unit Split”) of its outstanding BUCs.
BUCs units, issued \| shares			22,017,915		66,049,908
BUCs units, Outstanding \| shares			22,017,915		66,049,908
Supplemental distribution payable	$ 0.20	$ 0.20			$ 0.40			$ 0.20
BUCs distribution paid at ratio							0.01044
Distribution payable, record date	Dec. 30, 2022	Sep. 30, 2022
BUCs reverse stock split conversion ratio			0.333
Beneficial Unit Certificates [Member] \| Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Supplemental distribution payable						$ 0.20
BUCs distribution paid at ratio						0.0105
Restricted Unit Awards [Member]
Summary Of Significant Accounting Policies [Line Items]
Supplemental distribution payable					$ 0.40
Minimum [Member] \| Restricted Unit Awards [Member] \| Greystone Manager [Member]
Summary Of Significant Accounting Policies [Line Items]
RUAs granted with vesting range					3 months
Maximum [Member] \| Restricted Unit Awards [Member] \| Greystone Manager [Member]
Summary Of Significant Accounting Policies [Line Items]
Approved grant of restricted units and other awards to employees \| shares					1,000,000
RUAs granted with vesting range					3 years
Real Estate Buildings [Member] \| Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of the related asset					19 years
Real Estate Buildings [Member] \| Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of the related asset					40 years
Capital Improvements [Member] \| Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of the related asset					5 years
Capital Improvements [Member] \| Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of the related asset					15 years
The 5050 MF Property [Member] \| ASU 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Lessee operating lease discount rate											6.60%
Greens Hold Co [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of Real Estate Properties \| Property					1
Lindo Paseo LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership interest percentage in MF property					100%

Partnership Income, Expenses _3

Partnership Income, Expenses and Distributions - Additional Information (Details)	Jan. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Dec. 19, 2022 $ / shares	Oct. 31, 2022	Sep. 30, 2022 $ / shares	Sep. 14, 2022 $ / shares	Dec. 31, 2021 $ / shares
Regular distributions paid or accrued		$ 1.709					$ 1.469
Beneficial Unit Certificate Holders [Member]
Regular distributions paid or accrued		$ 0.40	$ 0.20		$ 0.20	$ 0.20
BUCs distribution paid at ratio				0.01044
Beneficial Unit Certificate Holders [Member] \| Subsequent Event [Member]
Regular distributions paid or accrued	$ 0.20
BUCs distribution paid at ratio	0.0105
Tier 1 [Member] \| Limited Partner [Member]
Percent of regular allocations		99%
Tier 1 [Member] \| General Partner [Member]
Percent of regular allocations		1%
Tier 2 [Member] \| Limited Partner [Member]
Percent of special allocations		75%
Tier 2 [Member] \| General Partner [Member]
Percent of special allocations		25%
Tier 3 [Member] \| Limited Partner [Member]
Percent of special allocations		100%

Partnership Income, Expenses _4

Partnership Income, Expenses and Distributions - Schedule of Distributions Paid or Accrued per Beneficial Unit Certificates (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash distributions	$ 1.709	$ 1.469

Partnership Income, Expenses _5

Partnership Income, Expenses and Distributions - Schedule of Distributions Paid or Accrued per Beneficial Unit Certificates (Parenthetical) (Details)	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Beneficial unit certificates distribution ratio	0.0105	0.01044

Net Income per BUC (Details)

Net Income per BUC (Details) - shares	12 Months Ended
Net Income per BUC (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Dilutive BUCs	0	0

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) $ in Millions	Dec. 31, 2022 USD ($) Property	Dec. 31, 2021 Property
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Variable Interest Entities \| Property	35	30
Non-Consolidated VIEs [Member] \| Investments in Unconsolidated Entities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 30.5
Mortgage Revenue Bonds [Member] \| Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	103
Taxable Mortgage Revenue Bonds [Member] \| Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	31.9
Governmental Issuer Loans [Member] \| Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	103.9
Taxable Governmental Issuer Loan [Member] \| Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	59.2
Property Loans [Member] \| Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 56.7

Variable Interest Entities - Va

Variable Interest Entities - Variable Interest Entities Property Asset Carrying Value and Maximum Exposure (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 667,698,183	$ 393,880,548
Mortgage Revenue Bonds [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	71,629,581	51,045,000
Taxable Mortgage Revenue Bonds [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	3,044,829	2,000,000
Governmental Issuer Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	300,230,435	184,767,450
Taxable Governmental Issuer Loan [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	8,000,000	1,000,000
Property Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	169,002,497	47,274,576
Investments in Unconsolidated Entities [Member]
Accounts Notes And Loans Receivable [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 115,790,841	$ 107,793,522

Mortgage Revenue Bonds - Schedu

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Details) - USD ($)		Dec. 31, 2022		Dec. 31, 2021
Mortgage Revenue Bonds Held In Trust [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		$ 718,413,130		$ 639,116,502
Cumulative Unrealized Gain		45,127,126		111,818,346
Cumulative Unrealized Loss		(331,311)
Estimated Fair Value		763,208,945		750,934,848
Mortgage Revenue Bonds Held In Trust [Member] \| Courtyard [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,874,603	[1]	9,970,209	[2]
Cumulative Unrealized Gain		888,242	[1]	2,060,480	[2]
Estimated Fair Value		10,762,845	[1]	12,030,689	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Glenview Apartments [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,372,370	[3]	4,429,350	[4]
Cumulative Unrealized Gain		309,570	[3]	863,955	[4]
Estimated Fair Value		4,681,940	[3]	5,293,305	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Harmony Court Bakersfield [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,600,418	[1]	3,635,277	[2]
Cumulative Unrealized Gain		274,456	[1]	720,308	[2]
Estimated Fair Value		3,874,874	[1]	4,355,585	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Harmony Terrace [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,665,787	[1]	6,730,004	[2]
Cumulative Unrealized Gain		625,752	[1]	1,425,757	[2]
Estimated Fair Value		7,291,539	[1]	8,155,761	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Harden Ranch [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,449,455	[5]	6,538,111	[6]
Cumulative Unrealized Gain		581,466	[5]	1,285,747	[6]
Estimated Fair Value		7,030,921	[5]	7,823,858	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Las Palmas II [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		1,633,397	[1]	1,649,370	[2]
Cumulative Unrealized Gain		140,681	[1]	332,704	[2]
Estimated Fair Value		1,774,078	[1]	1,982,074	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Lutheran Gardens [Member] \| NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	10,352,000
Cumulative Unrealized Gain	[7]	127,107
Estimated Fair Value	[7]	10,479,107
Mortgage Revenue Bonds Held In Trust [Member] \| Montclair Apartments [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,368,757	[3]	2,399,626	[4]
Cumulative Unrealized Gain		199,617	[3]	446,912	[4]
Estimated Fair Value		2,568,374	[3]	2,846,538	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Montecito at Williams Ranch Apartments [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,507,111	[7]	7,568,334	[8]
Cumulative Unrealized Gain		834,292	[7]	1,983,454	[8]
Estimated Fair Value		8,341,403	[7]	9,551,788	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Montevista [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,656,219	[7]	6,701,776	[8]
Cumulative Unrealized Gain		902,690	[7]	2,114,978	[8]
Estimated Fair Value		7,558,909	[7]	8,816,754	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Ocotillo Springs [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,090,000	[7],[9]	15,000,000	[8]
Cumulative Unrealized Gain	[8]			271,172
Cumulative Unrealized Loss	[7],[9]	(331,311)
Estimated Fair Value		10,758,689	[7],[9]	15,271,172	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Residency at the Entrepreneur - Series J-1 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	9,088,496
Cumulative Unrealized Gain	[7]	122,815
Estimated Fair Value	[7]	9,211,311
Mortgage Revenue Bonds Held In Trust [Member] \| Residency at the Entrepreneur - Series J-2 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	7,500,000
Cumulative Unrealized Gain	[7]	176,092
Estimated Fair Value	[7]	7,676,092
Mortgage Revenue Bonds Held In Trust [Member] \| Residency at the Entrepreneur - Series J-3 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	3,900,000
Cumulative Unrealized Gain	[7]	726,834
Estimated Fair Value	[7]	4,626,834
Mortgage Revenue Bonds Held In Trust [Member] \| Residency at the Mayer [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	26,067,585
Estimated Fair Value	[7]	26,067,585
Mortgage Revenue Bonds Held In Trust [Member] \| San Vicente [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,367,978	[1]	3,400,913	[2]
Cumulative Unrealized Gain		255,787	[1]	671,681	[2]
Estimated Fair Value		3,623,765	[1]	4,072,594	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Santa Fe Apartments [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,869,660	[3]	2,907,057	[4]
Cumulative Unrealized Gain		216,000	[3]	567,028	[4]
Estimated Fair Value		3,085,660	[3]	3,474,085	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Seasons at Simi Valley [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,137,438	[1]	4,188,582	[2]
Cumulative Unrealized Gain		522,910	[1]	1,011,623	[2]
Estimated Fair Value		4,660,348	[1]	5,200,205	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Seasons Lakewood [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,100,512	[1]	7,168,917	[2]
Cumulative Unrealized Gain		666,562	[1]	1,518,742	[2]
Estimated Fair Value		7,767,074	[1]	8,687,659	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Seasons San Juan Capistrano [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,954,944	[1]	12,070,116	[2]
Cumulative Unrealized Gain		1,038,904	[1]	2,557,065	[2]
Estimated Fair Value		12,993,848	[1]	14,627,181	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Summerhill [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,199,861	[1]	6,259,888	[2]
Cumulative Unrealized Gain		265,296	[1]	1,187,464	[2]
Estimated Fair Value		6,465,157	[1]	7,447,352	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Sycamore Walk [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,428,986	[1]	3,474,617	[2]
Cumulative Unrealized Gain		124,598	[1]	696,090	[2]
Estimated Fair Value		3,553,584	[1]	4,170,707	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| The Village at Madera [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,977,825	[1]	3,006,656	[2]
Cumulative Unrealized Gain		247,354	[1]	621,367	[2]
Estimated Fair Value		3,225,179	[1]	3,628,023	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Tyler Park Townhomes [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,616,043	[5]	5,694,168	[6]
Cumulative Unrealized Gain		264,300	[5]	691,137	[6]
Estimated Fair Value		5,880,343	[5]	6,385,305	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Vineyard Gardens \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,908,104	[7]	3,939,476	[8]
Cumulative Unrealized Gain		514,719	[7]	987,782	[8]
Estimated Fair Value		4,422,823	[7]	4,927,258	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Westside Village Market [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,670,075	[5]	3,721,129	[6]
Cumulative Unrealized Gain		267,369	[5]	701,915	[6]
Estimated Fair Value		3,937,444	[5]	4,423,044	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Brookstone [Member] \| IL [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,286,052	[10]	7,334,161	[11]
Cumulative Unrealized Gain		1,286,871	[10]	1,903,086	[11]
Estimated Fair Value		8,572,923	[10]	9,237,247	[11]
Mortgage Revenue Bonds Held In Trust [Member] \| Copper Gate Apartments [Member] \| IN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,840,000	[5]	4,900,000	[6]
Cumulative Unrealized Gain		117,014	[5]	433,436	[6]
Estimated Fair Value		4,957,014	[5]	5,333,436	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Renaissance [Member] \| Series A [Member] \| LA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,585,375	[3]	10,732,295	[4]
Cumulative Unrealized Gain		645,412	[3]	4,172,381	[4]
Estimated Fair Value		11,230,787	[3]	14,904,676	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Live 929 Apartments [Member] \| 2014 Series A [Member] \| MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			36,169,147
Cumulative Unrealized Gain	[8]			573,155
Estimated Fair Value	[8]			36,742,302
Mortgage Revenue Bonds Held In Trust [Member] \| Live 929 Apartments [Member] \| Series 2022A [Member] \| MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	58,107,262
Cumulative Unrealized Gain	[7]	2,217,857
Estimated Fair Value	[7]	60,325,119
Mortgage Revenue Bonds Held In Trust [Member] \| Jackson Manor Apartments [Member] \| MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,900,000	[7]	4,900,000	[8]
Estimated Fair Value		6,900,000	[7]	4,900,000	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Gateway Village [Member] \| NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			2,600,000
Cumulative Unrealized Gain	[8]			90,861
Estimated Fair Value	[8]			2,690,861
Mortgage Revenue Bonds Held In Trust [Member] \| Greens Property [Member] \| Series A [Member] \| NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,599,000	[5]	7,719,000	[6]
Cumulative Unrealized Gain		597	[5]	281,953	[6]
Estimated Fair Value		7,599,597	[5]	8,000,953	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Lynnhaven Apartments [Member] \| NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			3,450,000
Cumulative Unrealized Gain	[8]			115,328
Estimated Fair Value	[8]			3,565,328
Mortgage Revenue Bonds Held In Trust [Member] \| Silver Moon [Member] \| Series A [Member] \| NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,557,312	[3]	7,629,704	[4]
Cumulative Unrealized Gain		863,401	[3]	1,868,323	[4]
Estimated Fair Value		8,420,713	[3]	9,498,027	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Village at Avalon [Member] \| Series A [Member] \| NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		15,942,560	[12]	16,069,382	[13]
Cumulative Unrealized Gain		1,727,010	[12]	4,124,498	[13]
Estimated Fair Value		17,669,570	[12]	20,193,880	[13]
Mortgage Revenue Bonds Held In Trust [Member] \| Ohio Properties [Member] \| Series A [Member] \| OH [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[11]			13,580,000
Estimated Fair Value	[11]			13,580,000
Mortgage Revenue Bonds Held In Trust [Member] \| Bridle Ridge [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[11]			7,145,000
Estimated Fair Value	[11]			7,145,000
Mortgage Revenue Bonds Held In Trust [Member] \| Columbia Gardens [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,542,207	[1]	12,725,440	[2]
Cumulative Unrealized Gain		968,469	[1]	2,003,599	[2]
Estimated Fair Value		13,510,676	[1]	14,729,039	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Companion at Thornhill Apartments [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,786,181	[1]	10,924,609	[2]
Cumulative Unrealized Gain		709,979	[1]	1,793,226	[2]
Estimated Fair Value		11,496,160	[1]	12,717,835	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Cross Creek [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[11]			6,120,285
Cumulative Unrealized Gain	[11]			1,845,064
Estimated Fair Value	[11]			7,965,349
Mortgage Revenue Bonds Held In Trust [Member] \| The Palms at Premier Park [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,137,042	[5]	18,385,572	[6]
Cumulative Unrealized Gain		808,555	[5]	2,181,632	[6]
Estimated Fair Value		18,945,597	[5]	20,567,204	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| The Park at Sondrio [Member] \| Series 2022A [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	38,100,000
Estimated Fair Value	[7]	38,100,000
Mortgage Revenue Bonds Held In Trust [Member] \| The Park at Vietti [Member] \| Series 2022A [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[7]	26,985,000
Estimated Fair Value	[7]	26,985,000
Mortgage Revenue Bonds Held In Trust [Member] \| Village at River's Edge [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,649,659	[1]	9,728,355	[2]
Cumulative Unrealized Gain		590,962	[1]	2,370,569	[2]
Estimated Fair Value		10,240,621	[1]	12,098,924	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Willow Run [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,368,964	[1]	12,549,146	[2]
Cumulative Unrealized Gain		953,988	[1]	1,974,479	[2]
Estimated Fair Value		13,322,952	[1]	14,523,625	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Arbors at Hickory Ridge [Member] \| TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,591,726	[5]	10,755,889	[6]
Cumulative Unrealized Gain		2,005,029	[5]	3,598,292	[6]
Estimated Fair Value		12,596,755	[5]	14,354,181	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at Copperfield [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		13,532,636	[7]	13,678,286	[8]
Cumulative Unrealized Gain		919,463	[7]	2,549,711	[8]
Estimated Fair Value		14,452,099	[7]	16,227,997	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at the Crest [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		8,896,378	[5]	9,022,172	[6]
Cumulative Unrealized Gain		975,504	[5]	1,926,825	[6]
Estimated Fair Value		9,871,882	[5]	10,948,997	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at the Oaks [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,196,674	[5]	7,295,334	[6]
Cumulative Unrealized Gain		717,701	[5]	1,578,333	[6]
Estimated Fair Value		7,914,375	[5]	8,873,667	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at the Parkway [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,429,842	[3]	12,579,783	[4]
Cumulative Unrealized Gain		950,930	[3]	2,353,247	[4]
Estimated Fair Value		13,380,772	[3]	14,933,030	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at Wilcrest [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,128,595	[7]	5,183,794	[8]
Cumulative Unrealized Gain		170,370	[7]	772,242	[8]
Estimated Fair Value		5,298,965	[7]	5,956,036	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar at Wood Hollow [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		38,941,304	[7]	39,360,426	[8]
Cumulative Unrealized Gain		2,645,832	[7]	7,200,790	[8]
Estimated Fair Value		41,587,136	[7]	46,561,216	[8]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar in 09 [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,214,048	[5]	6,299,237	[6]
Cumulative Unrealized Gain		619,707	[5]	1,288,060	[6]
Estimated Fair Value		6,833,755	[5]	7,587,297	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar on the Boulevard [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		15,155,942	[5]	15,370,243	[6]
Cumulative Unrealized Gain		1,290,551	[5]	3,165,575	[6]
Estimated Fair Value		16,446,493	[5]	18,535,818	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Avistar on the Hills [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,927,003	[5]	4,994,549	[6]
Cumulative Unrealized Gain		523,079	[5]	1,100,478	[6]
Estimated Fair Value		5,450,082	[5]	6,095,027	[6]
Mortgage Revenue Bonds Held In Trust [Member] \| Bruton Apartments [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		17,381,296	[1]	17,532,185	[2]
Cumulative Unrealized Gain		281,271	[1]	4,452,765	[2]
Estimated Fair Value		17,662,567	[1]	21,984,950	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Concord at Gulfgate [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,404,942	[1]	18,606,719	[2]
Cumulative Unrealized Gain		1,842,303	[1]	4,211,979	[2]
Estimated Fair Value		20,247,245	[1]	22,818,698	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Concord at Little York [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,893,533	[1]	13,034,887	[2]
Cumulative Unrealized Gain		1,249,523	[1]	3,055,517	[2]
Estimated Fair Value		14,143,056	[1]	16,090,404	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Concord at Williamcrest [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		19,973,464	[1]	20,192,436	[2]
Cumulative Unrealized Gain		1,935,645	[1]	4,651,973	[2]
Estimated Fair Value		21,909,109	[1]	24,844,409	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Crossing at 1415 [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,170,756	[1]	7,253,698	[2]
Cumulative Unrealized Gain		605,369	[1]	1,549,224	[2]
Estimated Fair Value		7,776,125	[1]	8,802,922	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Decatur-Angle [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		21,866,672	[1]	22,074,594	[2]
Cumulative Unrealized Gain		77,837	[1]	4,731,759	[2]
Estimated Fair Value		21,944,509	[1]	26,806,353	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Esperanza at Palo Alto [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,916,082	[1]	19,071,622	[2]
Cumulative Unrealized Gain		2,209,462	[1]	5,317,911	[2]
Estimated Fair Value		21,125,544	[1]	24,389,533	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Heights at 515 [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,564,951	[1]	6,640,885	[2]
Cumulative Unrealized Gain		573,569	[1]	1,418,341	[2]
Estimated Fair Value		7,138,520	[1]	8,059,226	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Heritage Square [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,325,196	[3]	10,455,924	[4]
Cumulative Unrealized Gain		671,790	[3]	1,823,426	[4]
Estimated Fair Value		10,996,986	[3]	12,279,350	[4]
Mortgage Revenue Bonds Held In Trust [Member] \| Oaks at Georgetown [Member] \| Series A [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,911,472	[1]	12,026,225	[2]
Cumulative Unrealized Gain		746,300	[1]	2,181,690	[2]
Estimated Fair Value		12,657,772	[1]	14,207,915	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Runnymede [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,535,000	[10]	9,675,000	[11]
Cumulative Unrealized Gain		45,577	[10]	99,489	[11]
Estimated Fair Value		9,580,577	[10]	9,774,489	[11]
Mortgage Revenue Bonds Held In Trust [Member] \| Southpark [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,257,062	[10]	11,365,100	[11]
Cumulative Unrealized Gain		1,352,726	[10]	1,542,509	[11]
Estimated Fair Value		12,609,788	[10]	12,907,609	[11]
Mortgage Revenue Bonds Held In Trust [Member] \| 15 West Apartments [Member] \| WA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,454,318	[1]	9,531,842	[2]
Cumulative Unrealized Gain		1,534,060	[1]	2,799,259	[2]
Estimated Fair Value		10,988,378	[1]	12,331,101	[2]
Mortgage Revenue Bonds Held In Trust [Member] \| Rosewood Townhomes [Member] \| Series A [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[8]			24,000,000
Estimated Fair Value	[8]			24,000,000
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		36,888,068		41,395,781
Cumulative Unrealized Gain		504,076		1,179,215
Cumulative Unrealized Loss		(1,193,085)
Estimated Fair Value		36,199,059		42,574,996
Mortgage Revenue Bonds [Member] \| Lutheran Gardens [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				10,352,000
Estimated Fair Value				10,352,000
Mortgage Revenue Bonds [Member] \| Live 929 Apartments [Member] \| 2014 Series B [Member] \| MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				17,344,000
Estimated Fair Value				17,344,000
Mortgage Revenue Bonds [Member] \| Greens Property [Member] \| Series B [Member] \| NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		915,039		920,637
Cumulative Unrealized Gain		122		46,672
Estimated Fair Value		915,161		967,309
Mortgage Revenue Bonds [Member] \| Ohio Properties [Member] \| Series B [Member] \| OH [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				3,465,270
Estimated Fair Value				3,465,270
Mortgage Revenue Bonds [Member] \| Avistar at the Crest [Member] \| Series B [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		724,747		730,612
Cumulative Unrealized Gain		53,132		122,646
Estimated Fair Value		777,879		853,258
Mortgage Revenue Bonds [Member] \| Avistar at the Oaks [Member] \| Series B [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		530,829		534,953
Cumulative Unrealized Gain		33,406		86,437
Estimated Fair Value		564,235		621,390
Mortgage Revenue Bonds [Member] \| Avistar at the Parkway [Member] \| Series B [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		123,176		123,598
Cumulative Unrealized Gain		22,510		37,590
Estimated Fair Value		145,686		161,188
Mortgage Revenue Bonds [Member] \| Avistar in 09 [Member] \| Series B [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		437,886		441,288
Cumulative Unrealized Gain		27,557		71,303
Estimated Fair Value		465,443		512,591
Mortgage Revenue Bonds [Member] \| Avistar on the Boulevard [Member] \| Series B [Member] \| TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		430,647		434,132
Cumulative Unrealized Gain		26,816		69,950
Estimated Fair Value		457,463		504,082
Mortgage Revenue Bonds [Member] \| Meadow Valley [Member] \| MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,833,437	[14]	100,000
Cumulative Unrealized Loss	[14]	(1,193,085)
Estimated Fair Value		3,640,352	[14]	100,000
Mortgage Revenue Bonds [Member] \| Solano Vista [Member] \| Series A [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,631,168		2,649,291
Cumulative Unrealized Gain		297,861		744,617
Estimated Fair Value		2,929,029		3,393,908
Mortgage Revenue Bonds [Member] \| C C B A Senior Garden Apartments [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,792,700
Cumulative Unrealized Gain	[9]	42,672
Estimated Fair Value		3,835,372
Mortgage Revenue Bonds [Member] \| Residency at Empire - Series BB-1 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		14,118,500
Estimated Fair Value		14,118,500
Mortgage Revenue Bonds [Member] \| Residency at Empire - Series BB-2 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,000,000
Estimated Fair Value		4,000,000
Mortgage Revenue Bonds [Member] \| Residency at Empire - Series BB-3 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		55,000
Estimated Fair Value		55,000
Mortgage Revenue Bonds [Member] \| Provision Center 2014-1 [Member] \| TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,294,939		4,300,000
Estimated Fair Value		$ 4,294,939		$ 4,300,000

[1] MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 As of the date presented, the MRB had been in a cumulative unrealized loss position for less than 12 consecutive months and is not considered a credit loss. The Partnership determined the unrealized loss is a result of increasing market interest rates and is not considered other-than-temporary. MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB held by Morgan Stanley in a debt financing transaction, Note 15 MRB held by Morgan Stanley in a debt financing transaction, Note 15 The Partnership has a remaining MRB funding commitment of $ 39.3 million as of December 31, 2022. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining $ 39.3 million funding commitment outstanding as of December 31, 2022 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not other-than-temporary.

Mortgage Revenue Bonds - Sche_2

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Parenthetical) (Details)	Dec. 31, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 428,319,586
Mortgage Revenue Bond [Member] \| Meadow Valley [Member]
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 39,300,000

Mortgage Revenue Bonds - Additi

Mortgage Revenue Bonds - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jan. 31, 2023	Jul. 31, 2021	Dec. 31, 2021	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Redemption of contingent interest income		$ 1,800,000
Provision for credit loss			$ 1,856,893
Subsequent Event [Member]
Schedule Of Available For Sale Securities [Line Items]
Proceeds from initial liquidation	$ 3,700,000
Mortgage Revenue Bond [Member]
Schedule Of Available For Sale Securities [Line Items]
Carrying value, inclusive of accrued interest				$ 4,600,000
Rosewood Townhomes and South Pointe Apartments [Member] \| Series A MRB [Member]
Schedule Of Available For Sale Securities [Line Items]
Redemption price		106%

Mortgage Revenue Bonds - Sche_3

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Details)		1 Months Ended	12 Months Ended
		Jan. 31, 2022 USD ($) Unit	Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($) Unit
Schedule Of Available For Sale Securities [Line Items]
Initial Principal Funded \| $			$ 103,447,000	$ 60,282,000
Residency at the Entrepreneur [Member] \| MRB and Taxable MRB Commitments [Member] \| Series J-1 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units			200
Maturity Date			Mar. 31, 2040
Interest Rate			6%
Initial Principal Funded \| $			$ 9,000,000
Residency at the Entrepreneur [Member] \| MRB and Taxable MRB Commitments [Member] \| Series J-2 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April
Units			200
Maturity Date			Mar. 31, 2040
Interest Rate			6%
Initial Principal Funded \| $			$ 7,500,000
Residency at the Entrepreneur [Member] \| MRB and Taxable MRB Commitments [Member] \| Series J-3 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[1]		April
Units	[1]		200
Maturity Date	[1]		Mar. 31, 2040
Interest Rate	[1]		6%
Residency at the Entrepreneur [Member] \| MRB and Taxable MRB Commitments [Member] \| Series J-4 [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[1]		April
Units	[1]		200
Maturity Date	[1]		Mar. 31, 2040
Residency at the Entrepreneur [Member] \| MRB and Taxable MRB Commitments [Member] \| Series J-4 [Member] \| CA [Member] \| SOFR [Member]
Schedule Of Available For Sale Securities [Line Items]
Interest Rate	[1],[2]		3.60%
CCBA Senior Garden Apartments [Member] \| MRB and Taxable MRB Commitments [Member] \| San Diego, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[3]		June
Units	[3]		45
Maturity Date	[3]		Jul. 01, 2037
Interest Rate	[3]		4.50%
Initial Principal Funded \| $	[3]		$ 3,807,000
Park at Sondrio [Member] \| MRB and Taxable MRB Commitments [Member] \| Series 2022A [Member] \| Greenville, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			December
Units			271
Maturity Date			Jan. 01, 2030
Interest Rate			6.50%
Initial Principal Funded \| $			$ 38,100,000
Park at Vietti [Member] \| MRB and Taxable MRB Commitments [Member] \| Series 2022A [Member] \| Spartanburg, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			December
Units			204
Maturity Date			Jan. 01, 2030
Interest Rate			6.50%
Initial Principal Funded \| $			$ 26,985,000
Residency at Empire [Member] \| MRB and Taxable MRB Commitments [Member] \| Series BB-1 [Member] \| Burbank, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			December
Units			148
Maturity Date			Dec. 01, 2040
Interest Rate	[4]		6.45%
Initial Principal Funded \| $			$ 14,000,000
Residency at Empire [Member] \| MRB and Taxable MRB Commitments [Member] \| Series BB-2 [Member] \| Burbank, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			December
Units			148
Maturity Date			Dec. 01, 2040
Interest Rate	[4]		6.45%
Initial Principal Funded \| $			$ 4,000,000
Residency at Empire [Member] \| MRB and Taxable MRB Commitments [Member] \| Series BB-3 [Member] \| Burbank, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[5]		December
Units	[5]		148
Maturity Date	[5]		Dec. 01, 2040
Interest Rate	[4],[5]		6.45%
Initial Principal Funded \| $	[5]		$ 55,000
Residency at Empire [Member] \| MRB and Taxable MRB Commitments [Member] \| Series BB-4 [Member] \| Burbank, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[5]		December
Units	[5]		148
Maturity Date	[5]		Dec. 01, 2040
Interest Rate	[5],[6]		6.45%
Jackson Manor Apartments [Member] \| Jackson, MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[7]			April
Units	[7]			60
Maturity Date	[7]			May 01, 2038
Interest Rate	[7]			5%
Initial Principal Funded \| $	[7]			$ 4,150,000
Residency at the Mayer [Member] \| Series A [Member] \| Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[8]			October
Units	[8]			79
Maturity Date	[8]			Apr. 01, 2039
Initial Principal Funded \| $	[8]			$ 24,000,000
Residency at the Mayer [Member] \| Series A [Member] \| Hollywood, CA [Member] \| SOFR [Member]
Schedule Of Available For Sale Securities [Line Items]
Interest Rate	[8],[9]			3.60%
Meadow Valley [Member] \| Garfield Charter Township, MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[10]			December
Units	[10]			154
Maturity Date	[10]			Dec. 01, 2029
Interest Rate	[10]			6.25%
Initial Principal Funded \| $	[10]			$ 100,000
Lutheran Gardens [Member] \| Compton, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired				December
Units				76
Maturity Date				Feb. 01, 2025
Interest Rate				4.90%
Initial Principal Funded \| $				$ 10,352,000
Live 929 Apartments [Member] \| Series B [Member] \| Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[11]			December
Units	[11]			575
Maturity Date	[11]			Jul. 01, 2039
Interest Rate	[11],[12]			1.60%
Initial Principal Funded \| $	[11]			$ 21,680,000
Live 929 Apartments [Member] \| Series 2022A [Member] \| Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired		January
Units		575
Maturity Date		Jan. 01, 2060
Interest Rate		4.30%
Initial Principal Funded \| $		$ 66,365,000

[1] The Partnership has committed to provide funding for the Series J-3 and Series J-4 MRBs of $ 26.1 million and $ 16.4 million, respectively. See Note 18. The interest rate is subject to an all-in floor of 3.87 %. Upon stabilization, the Series J-4 MRB will become subordinate to the Series J-1, J-2 and J-3 MRBs and will convert to a fixed rate of 8.0 %. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 1.5 million. The investment was previously reported as a bond purchase commitment that has converted to an MRB. In December 2029, the interest rate will reset to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. The Partnership has committed to provide additional funding during construction for the Series BB-3 and Series BB-4 MRBs of $ 13.9 million and $ 47.0 million, respectively. See Note 18. Upon stabilization, the MRB will resize to an amount not to exceed $ 3.3 million and become subordinate to the other senior MRBs of the borrower. In December 2029, the interest rate will convert to a fixed rate of 10.0 %. The Partnership has committed to provide total funding of the MRB up to $ 6.9 million during the acquisition and rehabilitation phase of the property on a drawdown basis. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 4.8 million. The Partnership committed to provide total funding of the MRB up to $ 29.5 million during the acquisition and rehabilitation phase of the property on a drawdown 18.1 The index is subject to a floor of 0.25 %. The Partnership committed to provide total funding of the MRB up to $ 44.0 million during construction on a draw-down basis. The Partnership purchased the MRB at a discount to outstanding principal of $ 4.3 million. The purchase price of the bond was $ 17.3 million. The MRB has a variable interest rate equal to 69.5 % of the sum of LIBOR plus 1.80 % multiplied by a margin equal to one minus the maximum U.S. Federal

Mortgage Revenue Bonds - Sche_4

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Parenthetical) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Jackson Manor Apartments [Member] \| Jackson, MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB		$ 6.9
Maximum balance of the MRB after stabilization		4.8
Residency at the Mayer [Member] \| Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB		29.5
Maximum balance of the MRB after stabilization		18.1
Meadow Valley [Member] \| Garfield Charter Township, MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB		44
Live929 Apartments [Member] \| Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Discount on purchase of outstanding principal Mrb		4.3
Purchase price of bond		$ 17.3
Loan financing variable interest rate		69.50%
Variable Interest Rate		1.80%
SOFR [Member] \| Residency at the Mayer [Member] \| Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Floor rate		0.25%
Mortgage Revenue Bonds [Member] \| Residency at the Entrepreneur [Member] \| CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Floor rate	3.87%
Mortgage Revenue Bonds [Member] \| Residency at the Entrepreneur [Member] \| CA [Member] \| Series J-3 [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB	$ 26.1
Mortgage Revenue Bonds [Member] \| Residency at the Entrepreneur [Member] \| CA [Member] \| Series J-4 [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB	16.4
Maximum balance of the MRB after stabilization	$ 1.5
Fixed interest rate	8%
Mortgage Revenue Bonds [Member] \| Residency at Empire [Member] \| Burbank, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Mortgage loans on real estate minimum threshold interest rate over 10 year SOFR swap rate after seven years	3.25%
Mortgage loans on real estate minimum threshold interest rate after seven years	6%
Mortgage Revenue Bonds [Member] \| Residency at Empire [Member] \| Burbank, CA [Member] \| Series BB-3 [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide additional funding of taxable MRB	$ 13.9
Mortgage Revenue Bonds [Member] \| Residency at Empire [Member] \| Burbank, CA [Member] \| Series BB-4 [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide additional funding of taxable MRB	47
Maximum balance of the MRB after stabilization	$ 3.3
Fixed interest rate	10%

Mortgage Revenue Bonds - Sche_5

Mortgage Revenue Bonds - Schedule of Terms of MRBSs upon Redemption (Details) - Mortgage Revenue Bonds [Member]	1 Months Ended
	Jan. 31, 2022 USD ($) Unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption	$ 61,055,000	$ 37,795,376	$ 43,830,074
Live 929 Apartments [Member] \| 2014 Series A [Member] \| Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	January
Units \| Unit	575
Original Maturity Date	Jul. 01, 2049
Interest Rate	5.78%
Principal Outstanding at Date of Redemption	$ 39,445,000
Live 929 Apartments [Member] \| 2014 Series B [Member] \| Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	January
Units \| Unit	575
Original Maturity Date	Jul. 01, 2039
Interest Rate	1.60%
Principal Outstanding at Date of Redemption	$ 21,610,000

Mortgage Revenue Bonds - Sche_6

Mortgage Revenue Bonds - Schedule of MRBs Redeemed (Details) - Mortgage Revenue Bonds [Member]		12 Months Ended
		Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($) Unit	Jan. 31, 2022 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption		$ 37,795,376	$ 43,830,074	$ 61,055,000
Ohio Properties [Member] \| Series A [Member] \| Crescent Village, Willow Bend and Postwoods [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[1]	March
Units \| Unit	[1]	362
Original Maturity Date	[1]	Jun. 01, 2050
Interest Rate	[1]	7%
Principal Outstanding at Date of Redemption	[1]	$ 13,544,000
Ohio Properties [Member] \| Series B [Member] \| Crescent Village, Willow Bend and Postwoods [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[1]	March
Units \| Unit	[1]	362
Original Maturity Date	[1]	Jun. 01, 2050
Interest Rate	[1]	10%
Principal Outstanding at Date of Redemption	[1]	$ 3,459,840
Bridle Ridge [Member] \| Greer, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		May
Units \| Unit		152
Original Maturity Date		Jan. 01, 2043
Interest Rate		6%
Principal Outstanding at Date of Redemption		$ 7,100,000
Cross Creek [Member] \| Beaufort, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		September
Units \| Unit		144
Original Maturity Date		Mar. 01, 2049
Interest Rate		6.15%
Principal Outstanding at Date of Redemption		$ 7,666,752
Gateway Village [Member] \| Durham, NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		October
Units \| Unit		64
Original Maturity Date		Apr. 01, 2032
Interest Rate		6.10%
Principal Outstanding at Date of Redemption		$ 2,589,163
Lynnhaven Apartments [Member] \| Durham, NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed		October
Units \| Unit		75
Original Maturity Date		Apr. 01, 2032
Interest Rate		6.10%
Principal Outstanding at Date of Redemption		$ 3,435,621
Arby Road Apartments [Member] \| Series A [Member] \| Las Vegas, NV [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[2]		March
Units \| Unit	[2]		180
Original Maturity Date	[2]		Oct. 01, 2027
Interest Rate	[2]		5.35%
Principal Outstanding at Date of Redemption	[2]		$ 1,600,000
Arby Road Apartments [Member] \| Series A [Member] \| Las Vegas, NV [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	[2]		March
Units \| Unit	[2]		180
Original Maturity Date	[2]		Apr. 01, 2041
Interest Rate	[2]		5.50%
Principal Outstanding at Date of Redemption	[2]		$ 5,785,000
Rosewood Townhomes [Member] \| Series A [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units \| Unit			100
Original Maturity Date			Jul. 01, 2055
Interest Rate			5.75%
Principal Outstanding at Date of Redemption			$ 9,259,206
Rosewood Townhomes [Member] \| Series B [Member] \| Goose Creek, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units \| Unit			100
Original Maturity Date			Aug. 01, 2055
Interest Rate			12%
Principal Outstanding at Date of Redemption			$ 469,781
South Pointe Apartments [Member] \| Series A [Member] \| Hanahan, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units \| Unit			256
Original Maturity Date			Jul. 01, 2055
Interest Rate			5.75%
Principal Outstanding at Date of Redemption			$ 21,551,600
South Pointe Apartments [Member] \| Series B [Member] \| Hanahan, SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			July
Units \| Unit			256
Original Maturity Date			Aug. 01, 2055
Interest Rate			12%
Principal Outstanding at Date of Redemption			$ 1,099,487
Woodlynn Village [Member] \| Maplewood Minnesota [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed			November
Units \| Unit			59
Original Maturity Date			Nov. 01, 2042
Interest Rate			6%
Principal Outstanding at Date of Redemption			$ 4,065,000

[1] The Ohio Properties consist of Crescent Village, located in Cincinnati, Ohio, Willow Bend, located in Columbus (Hilliard), Ohio and Postwoods, located in Reynoldsburg, Ohio. Both MRBs are part of the same series but had different interest rates and maturity dates.

Mortgage Revenue Bonds - Summar

Mortgage Revenue Bonds - Summary of Changes in Partnership's Allowance for Credit Losses (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Allowance for Credit Loss [Abstract]
Recovery of prior credit loss		$ (57,124)
Mortgage Revenue Bonds [Member]
Allowance for Credit Loss [Abstract]
Balance, beginning of period		9,175,482	[1]	$ 7,318,589
Provision for credit loss				1,856,893
Other additions	[2]	860,533
Recovery of prior credit loss	[3]	(57,124)
Balance, end of period	[1]	$ 9,978,891		$ 9,175,482

[1] The allowance for credit losses as of December 31, 2021 and 2022 is related to the Provision Center 2014-1 MRB and the Live 929 Apartments - Series 2022A MRB. The other addition is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan. The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. The Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB.

Mortgage Revenue Bonds - Sche_7

Mortgage Revenue Bonds - Schedule of Percentage of MRBs Principal Outstanding (Details)	Dec. 31, 2022	Dec. 31, 2021
TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Percentage of available for sale securities by location	37%	41%
CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Percentage of available for sale securities by location	26%	23%
SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Percentage of available for sale securities by location	17%	11%

Mortgage Revenue Bonds - Descri

Mortgage Revenue Bonds - Description of Certain Terms of Partnership's MRBs (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Summary Of Investment Holdings [Line Items]
Principal Outstanding		$ 771,014,252		$ 697,713,691
15 West Apartments [Member] \| Series A [Member] \| Vancouver Washington [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jul. 01, 2054		Jul. 01, 2054
Base Interest Rate	[1]	6.25%		6.25%
Principal Outstanding	[1]	$ 9,454,318		$ 9,531,842
Arbors at Hickory Ridge [Member] \| Memphis, Tennessee [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2012		2012
Maturity Date	[2]	Jan. 01, 2049		Jan. 01, 2049
Base Interest Rate	[2]	6.25%		6.25%
Principal Outstanding	[2]	$ 10,545,462		$ 10,701,537
Avistar at Copperfield [Member] \| Series A [Member] \| Houston, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2017	[3]	2017	[4]
Maturity Date		May 01, 2054	[3]	May 01, 2054	[4]
Base Interest Rate		5.75%	[3]	5.75%	[4]
Principal Outstanding		$ 13,532,636	[3]	$ 13,678,286	[4]
Avistar on the Boulevard [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Mar. 01, 2050		Mar. 01, 2050
Base Interest Rate	[2]	6%		6%
Principal Outstanding	[2]	$ 15,155,942		$ 15,370,243
Avistar at the Crest [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Mar. 01, 2050		Mar. 01, 2050
Base Interest Rate	[2]	6%		6%
Principal Outstanding	[2]	$ 8,896,378		$ 9,022,172
Avistar (February 2013 Acquisition) [Member] \| Series B [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2013		2013
Maturity Date		Apr. 01, 2050		Apr. 01, 2050
Base Interest Rate		9%		9%
Principal Outstanding		$ 1,155,394		$ 1,164,744
Avistar at the Oaks [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Aug. 01, 2050		Aug. 01, 2050
Base Interest Rate	[2]	6%		6%
Principal Outstanding	[2]	$ 7,196,674		$ 7,295,334
Avistar in 09 [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Aug. 01, 2050		Aug. 01, 2050
Base Interest Rate	[2]	6%		6%
Principal Outstanding	[2]	$ 6,214,048		$ 6,299,237
Avistar on the Hills [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Aug. 01, 2050		Aug. 01, 2050
Base Interest Rate	[2]	6%		6%
Principal Outstanding	[2]	$ 4,927,003		$ 4,994,549
Avistar (June 2013 Acquisition) [Member] \| Series B [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2013		2013
Maturity Date		Sep. 01, 2050		Sep. 01, 2050
Base Interest Rate		9%		9%
Principal Outstanding		$ 968,715		$ 976,241
Avistar at the Parkway [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2015		2015
Maturity Date	[5]	May 01, 2052		May 01, 2052
Base Interest Rate	[5]	6%		6%
Principal Outstanding	[5]	$ 12,429,842		$ 12,579,783
Avistar at the Parkway [Member] \| Series B [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2015		2015
Maturity Date		Jun. 01, 2052		Jun. 01, 2052
Base Interest Rate		12%		12%
Principal Outstanding		$ 123,176		$ 123,598
Avistar at Wilcrest [Member] \| Series A [Member] \| Houston, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2017	[6]	2017	[4]
Maturity Date		May 01, 2054	[6]	May 01, 2054	[4]
Base Interest Rate		5.75%	[6]	5.75%	[4]
Principal Outstanding		$ 5,128,595	[6]	$ 5,183,794	[4]
Avistar at Wood Hollow [Member] \| Series A [Member] \| Austin,TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2017	[6]	2017	[4]
Maturity Date		May 01, 2054	[6]	May 01, 2054	[4]
Base Interest Rate		5.75%	[6]	5.75%	[4]
Principal Outstanding		$ 38,941,304	[6]	$ 39,360,427	[4]
Bridle Ridge [Member] \| Greer, SC [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]			2008
Maturity Date	[7]			Jan. 01, 2043
Base Interest Rate	[7]			6%
Principal Outstanding	[7]			$ 7,145,000
Brookstone [Member] \| Waukegan, Illinois [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]	2009		2009
Maturity Date	[7]	May 01, 2040		May 01, 2040
Base Interest Rate	[7]	5.45%		5.45%
Principal Outstanding	[7]	$ 8,403,386		$ 8,531,517
Bruton Apartments [Member] \| Dallas Texas [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2014		2014
Maturity Date	[1]	Aug. 01, 2054		Aug. 01, 2054
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 17,381,296		$ 17,532,185
CCBA Senior Garden Apartments [Member] \| San Diego, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2022
Maturity Date		Jul. 01, 2037
Base Interest Rate		4.50%
Principal Outstanding		$ 3,792,700
Columbia Gardens [Member] \| Columbia South Carolina
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Dec. 01, 2050		Dec. 01, 2050
Base Interest Rate	[1]	5.50%		5.50%
Principal Outstanding	[1]	$ 12,455,000		$ 12,620,000
Companion at Thornhill Apartments [Member] \| Lexington, South Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jan. 01, 2052		Jan. 01, 2052
Base Interest Rate	[1]	5.80%		5.80%
Principal Outstanding	[1]	$ 10,786,181		$ 10,924,609
Concord at Gulfgate [Member] \| Series A [Member] \| Houston, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Feb. 01, 2032		Feb. 01, 2032
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 18,404,942		$ 18,606,719
Concord at Little York [Member] \| Series A [Member] \| Houston, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Feb. 01, 2032		Feb. 01, 2032
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 12,893,533		$ 13,034,887
Concord at Williamcrest [Member] \| Series A [Member] \| Houston, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Feb. 01, 2032		Feb. 01, 2032
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 19,973,464		$ 20,192,436
Courtyard [Member] \| Series A [Member] \| Fullerton California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Dec. 01, 2033		Dec. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 9,874,603		$ 9,970,209
Cross Creek [Member] \| Beaufort, South Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]			2009
Maturity Date	[7]			Mar. 01, 2049
Base Interest Rate	[7]			6.15%
Principal Outstanding	[7]			$ 7,747,521
Decatur Angle [Member] \| Fort Worth, Texas [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2014		2014
Maturity Date	[1]	Jan. 01, 2054		Jan. 01, 2054
Base Interest Rate	[1]	5.75%		5.75%
Principal Outstanding	[1]	$ 21,866,672		$ 22,074,594
Harden Ranch [Member] \| Series A [Member] \| Salinas California
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2014		2014
Maturity Date	[2]	Mar. 01, 2030		Mar. 01, 2030
Base Interest Rate	[2]	5.75%		5.75%
Principal Outstanding	[2]	$ 6,449,455		$ 6,538,111
Heritage Square [Member] \| Series A [Member] \| Edinburg Texas
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2014		2014
Maturity Date	[5]	Sep. 01, 2051		Sep. 01, 2051
Base Interest Rate	[5]	6%		6%
Principal Outstanding	[5]	$ 10,325,196		$ 10,455,924
Jackson Manor Apartments [Member] \| Jackson, MS [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2021	[6]	2021	[4]
Maturity Date		May 01, 2038	[6]	May 01, 2038	[4]
Base Interest Rate		5%	[6]	5%	[4]
Principal Outstanding		$ 6,900,000	[6]	$ 4,900,000	[4]
Crossing at 1415 [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Dec. 01, 2052		Dec. 01, 2052
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 7,170,756		$ 7,253,698
Gateway Village [Member] \| Durham, North Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[4]			2019
Maturity Date	[4]			Apr. 01, 2032
Base Interest Rate	[4]			6.10%
Principal Outstanding	[4]			$ 2,600,000
Esperanza at Palo Alto [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2018		2018
Maturity Date	[1]	Jul. 01, 2058		Jul. 01, 2058
Base Interest Rate	[1]	5.80%		5.80%
Principal Outstanding	[1]	$ 18,916,082		$ 19,071,622
Glenview Apartments [Member] \| Series A [Member] \| Cameron California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2014		2014
Maturity Date	[5]	Dec. 01, 2031		Dec. 01, 2031
Base Interest Rate	[5]	5.75%		5.75%
Principal Outstanding	[5]	$ 4,372,370		$ 4,429,350
Greens Property [Member] \| Series A [Member] \| Durham, North Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2012		2012
Maturity Date	[2]	Oct. 01, 2047		Oct. 01, 2047
Base Interest Rate	[2]	6.50%		6.50%
Principal Outstanding	[2]	$ 7,599,000		$ 7,719,000
Greens Property [Member] \| Series B [Member] \| Durham, North Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2012		2012
Maturity Date		Oct. 01, 2047		Oct. 01, 2047
Base Interest Rate		12%		12%
Principal Outstanding		$ 915,039		$ 920,637
Harmony Court Bakersfield [Member] \| Series A [Member] \| Bakersfield, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Dec. 01, 2033		Dec. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 3,600,418		$ 3,635,277
Heights at 515 [Member] \| Series A [Member] \| San Antonio, TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Dec. 01, 2052		Dec. 01, 2052
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 6,564,951		$ 6,640,885
Harmony Terrace [Member] \| Series A [Member] \| Simi Valley, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jan. 01, 2034		Jan. 01, 2034
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 6,665,787		$ 6,730,004
Las Palmas II [Member] \| Series A [Member] \| Coachella, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Nov. 01, 2033		Nov. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 1,633,397		$ 1,649,370
Live 929 Apartments [Member] \| Series A [Member] \| Baltimore Maryland
Summary Of Investment Holdings [Line Items]
Year Acquired		2022	[6]	2014	[4]
Maturity Date		Jan. 01, 2060	[6]	Jul. 01, 2049	[4]
Base Interest Rate		4.30%	[6]	5.78%	[4]
Principal Outstanding		$ 66,365,000	[6]	$ 39,465,000	[4]
Live 929 Apartments [Member] \| Series B [Member] \| Baltimore Maryland
Summary Of Investment Holdings [Line Items]
Year Acquired				2021
Maturity Date				Jul. 01, 2039
Base Interest Rate				1.60%
Principal Outstanding				$ 21,680,000
Lutheran Gardens [Member] \| Compton, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired				2021
Maturity Date				Feb. 01, 2025
Base Interest Rate				4.90%
Principal Outstanding				$ 10,352,000
Lutheran Gardens [Member] \| Series A [Member] \| Compton, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2021
Maturity Date	[6]	Feb. 01, 2025
Base Interest Rate	[6]	4.90%
Principal Outstanding	[6]	$ 10,352,000
Lynnhaven Apartments [Member] \| Durham, North Carolina [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[4]			2019
Maturity Date	[4]			Apr. 01, 2032
Base Interest Rate	[4]			6.10%
Principal Outstanding	[4]			$ 3,450,000
Meadow Valley [Member] \| Garfield Charter Township, MI [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired				2021
Maturity Date				Dec. 01, 2029
Base Interest Rate				6.25%
Principal Outstanding				$ 100,000
Meadow Valley [Member] \| Series A [Member] \| Garfield Charter Township, MI [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2021
Maturity Date		Dec. 01, 2029
Base Interest Rate		6.25%
Principal Outstanding		$ 4,723,437
Montclair Apartments [Member] \| Series A [Member] \| Lemoore California
Summary Of Investment Holdings [Line Items]
Year Acquired		2014		2014	[5]
Maturity Date		Dec. 01, 2031		Dec. 01, 2031	[5]
Base Interest Rate		5.75%		5.75%	[5]
Principal Outstanding		$ 2,368,757		$ 2,399,626	[5]
Montecito at Williams Ranch Apartments [Member] \| Series A [Member] \| Salinas California
Summary Of Investment Holdings [Line Items]
Year Acquired		2017	[6]	2017	[4]
Maturity Date		Oct. 01, 2034	[6]	Oct. 01, 2034	[4]
Base Interest Rate		5.50%	[6]	5.50%	[4]
Principal Outstanding		$ 7,507,111	[6]	$ 7,568,334	[4]
Montevista [Member] \| Series A [Member] \| San Pablo, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2019	[6]	2019	[4]
Maturity Date		Jul. 01, 2036	[6]	Jul. 01, 2036	[4]
Base Interest Rate		5.75%	[6]	5.75%	[4]
Principal Outstanding		$ 6,656,219	[6]	$ 6,701,776	[4]
Oaks at Georgetown [Member] \| Series A [Member] \| Georgetown, Texas [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jan. 01, 2034		Jan. 01, 2034
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 11,911,472		$ 12,026,225
Ocotillo Springs [Member] \| Series A [Member] \| Brawley, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2020	[6]	2020	[4]
Maturity Date		Aug. 01, 2037	[6]	Aug. 01, 2037	[4]
Base Interest Rate		4.55%	[6]	4.55%	[4]
Principal Outstanding		$ 11,090,000	[6]	$ 15,000,000	[4]
Ohio Properties [Member] \| Series A [Member] \| OH [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]			2010
Maturity Date	[7]			Jun. 01, 2050
Base Interest Rate	[7]			7%
Principal Outstanding	[7]			$ 13,580,000
Ohio Properties [Member] \| Series B [Member] \| OH [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired				2010
Maturity Date				Jun. 01, 2050
Base Interest Rate				10%
Principal Outstanding				$ 3,465,270
Park at Sondrio - Series 2022A \| Greenville, SC [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2022
Maturity Date	[6]	Jan. 01, 2030
Base Interest Rate	[6]	6.50%
Principal Outstanding	[6]	$ 38,100,000
Park at Vietti - Series 2022A \| Spartanburg, SC [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2022
Maturity Date	[6]	Jan. 01, 2030
Base Interest Rate	[6]	6.50%
Principal Outstanding	[6]	$ 26,985,000
Provision Center 2014-1 [Member] \| Knoxville Tennessee
Summary Of Investment Holdings [Line Items]
Year Acquired		2014		2014
Maturity Date		May 01, 2034		May 01, 2034
Base Interest Rate		6%		6%
Principal Outstanding		$ 10,000,000		$ 10,000,000
Renaissance [Member] \| Series A [Member] \| Baton Rouge, Louisiana [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2015		2015
Maturity Date	[5]	Jun. 01, 2050		Jun. 01, 2050
Base Interest Rate	[5]	6%		6%
Principal Outstanding	[5]	$ 10,585,375		$ 10,732,295
Residency at Empire - Series BB-1 [Member] \| Burbank, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2022
Maturity Date		Dec. 01, 2040
Base Interest Rate		6.45%
Principal Outstanding		$ 14,000,000
Residency at Empire - Series BB-2 [Member] \| Burbank, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2022
Maturity Date		Dec. 01, 2040
Base Interest Rate		6.45%
Principal Outstanding		$ 4,000,000
Residency at Empire - Series BB-3 [Member] \| Burbank, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2022
Maturity Date		Dec. 01, 2040
Base Interest Rate		6.45%
Principal Outstanding		$ 55,000
Residency at the Mayer [Member] \| Series A [Member] \| Hollywood, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2021
Maturity Date	[6]	Apr. 01, 2039
Base Interest Rate	[6]	3.85%
Principal Outstanding	[6]	$ 26,000,000
Rosewood Townhomes [Member] \| Series A [Member] \| Goose Creek South Carolina
Summary Of Investment Holdings [Line Items]
Year Acquired	[4]			2021
Maturity Date	[4]			Apr. 01, 2039
Base Interest Rate	[4]			3.85%
Principal Outstanding	[4]			$ 24,000,000
Residency at the Entrepreneur J -1 [Member] \| Los Angeles, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2022
Maturity Date	[6]	Mar. 31, 2040
Base Interest Rate	[6]	6%
Principal Outstanding	[6]	$ 9,000,000
Residency at the Entrepreneur J -2 [Member] \| Los Angeles, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2022
Maturity Date	[6]	Mar. 31, 2040
Base Interest Rate	[6]	6%
Principal Outstanding	[6]	$ 7,500,000
Residency at the Entrepreneur J -3 [Member] \| Los Angeles, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[6]	2022
Maturity Date	[6]	Mar. 31, 2040
Base Interest Rate	[6]	6%
Principal Outstanding	[6]	$ 3,900,000
Runnymede [Member] \| Austin,TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]	2007		2007
Maturity Date	[7]	Oct. 01, 2042		Oct. 01, 2042
Base Interest Rate	[7]	6%		6%
Principal Outstanding	[7]	$ 9,535,000		$ 9,675,000
San Vicente [Member] \| Series A [Member] \| Soledad, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Nov. 01, 2033		Nov. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 3,367,978		$ 3,400,913
Santa Fe Apartments [Member] \| Series A [Member] \| Hesperia California
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2014		2014
Maturity Date	[5]	Dec. 01, 2031		Dec. 01, 2031
Base Interest Rate	[5]	5.75%		5.75%
Principal Outstanding	[5]	$ 2,869,660		$ 2,907,057
Seasons at Simi Valley [Member] \| Series A [Member] \| Simi Valley, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Sep. 01, 2032		Sep. 01, 2032
Base Interest Rate	[1]	5.75%		5.75%
Principal Outstanding	[1]	$ 4,137,438		$ 4,188,582
Seasons Lakewood [Member] \| Series A [Member] \| Lakewood, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jan. 01, 2034		Jan. 01, 2034
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 7,100,512		$ 7,168,917
Seasons San Juan Capistrano [Member] \| Series A [Member] \| San Juan Capistrano California
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Jan. 01, 2034		Jan. 01, 2034
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 11,954,944		$ 12,070,116
Silver Moon [Member] \| Series A [Member] \| Albuquerque, NM [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[5]	2015		2015
Maturity Date	[5]	Aug. 01, 2055		Aug. 01, 2055
Base Interest Rate	[5]	6%		6%
Principal Outstanding	[5]	$ 7,557,312		$ 7,629,704
Solano Vista [Member] \| Series A [Member] \| Vallejo, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2018		2018
Maturity Date		Jan. 01, 2036		Jan. 01, 2036
Base Interest Rate		5.85%		5.85%
Principal Outstanding		$ 2,631,168		$ 2,649,291
Southpark [Member] \| Austin,TX [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[7]	2009		2009
Maturity Date	[7]	Dec. 01, 2049		Dec. 01, 2049
Base Interest Rate	[7]	6.13%		6.13%
Principal Outstanding	[7]	$ 12,495,000		$ 12,675,000
Summerhill [Member] \| Series A [Member] \| Bakersfield, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Dec. 01, 2033		Dec. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 6,199,861		$ 6,259,888
Sycamore Walk [Member] \| Series A [Member] \| Bakersfield, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Jan. 01, 2033		Jan. 01, 2033
Base Interest Rate	[1]	5.25%		5.25%
Principal Outstanding	[1]	$ 3,428,986		$ 3,474,617
The Palms at Premier Park Apartments \| Columbia South Carolina
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Jan. 01, 2050		Jan. 01, 2050
Base Interest Rate	[2]	6.25%		6.25%
Principal Outstanding	[2]	$ 18,137,042		$ 18,385,572
Tyler Park Townhomes [Member] \| Greenfield California
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Jan. 01, 2030		Jan. 01, 2030
Base Interest Rate	[2]	5.75%		5.75%
Principal Outstanding	[2]	$ 5,616,043		$ 5,694,168
Village at Avalon [Member] \| Albuquerque, NM [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2018	[8]	2018	[9]
Maturity Date		Jan. 01, 2059	[8]	Jan. 01, 2059	[9]
Base Interest Rate		5.80%	[8]	5.80%	[9]
Principal Outstanding		$ 15,942,559	[8]	$ 16,069,382	[9]
The Village at Madera [Member] \| Series A [Member] \| Madera, California [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2016		2016
Maturity Date	[1]	Dec. 01, 2033		Dec. 01, 2033
Base Interest Rate	[1]	5%		5%
Principal Outstanding	[1]	$ 2,977,825		$ 3,006,656
Village at River's Edge [Member] \| Columbia South Carolina
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2017		2017
Maturity Date	[1]	Jun. 01, 2033		Jun. 01, 2033
Base Interest Rate	[1]	6%		6%
Principal Outstanding	[1]	$ 9,649,659		$ 9,728,355
Vineyard Gardens \| Series A [Member] \| Oxnard, CA [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2017	[6]	2017	[4]
Maturity Date		Jan. 01, 2035	[6]	Jan. 01, 2035	[4]
Base Interest Rate		5.50%	[6]	5.50%	[4]
Principal Outstanding		$ 3,908,104	[6]	$ 3,939,476	[4]
Westside Village Market [Member] \| Shafter California
Summary Of Investment Holdings [Line Items]
Year Acquired	[2]	2013		2013
Maturity Date	[2]	Jan. 01, 2030		Jan. 01, 2030
Base Interest Rate	[2]	5.75%		5.75%
Principal Outstanding	[2]	$ 3,670,075		$ 3,721,129
Willow Run [Member] \| Columbia South Carolina
Summary Of Investment Holdings [Line Items]
Year Acquired	[1]	2015		2015
Maturity Date	[1]	Dec. 01, 2050		Dec. 01, 2050
Base Interest Rate	[1]	5.50%		5.50%
Principal Outstanding	[1]	$ 12,282,000		$ 12,444,000
Copper Gate Apartments [Member] \| Lafayette, Indiana [Member]
Summary Of Investment Holdings [Line Items]
Year Acquired		2013	[2]	2013	[1]
Maturity Date		Dec. 01, 2029	[2]	Dec. 01, 2029	[1]
Base Interest Rate		6.25%	[2]	6.25%	[1]
Principal Outstanding		$ 4,840,000	[2]	$ 4,900,000	[1]

[1] MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 MRB held by Mizuho Capital Markets, LLC in a debt financing transaction, Note 15 MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB held by Mizuho Capital Markets, LLC in a secured financing transaction, Note 15 MRB owned by ATAX TEBS I, LLC (M24 TEBS), Note 15 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB held by Morgan Stanley in a secured financing transaction, Note 15 MRB held by Morgan Stanley in a debt financing transaction, Note 15

Governmental Issuer Loans - Sum

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Details)		12 Months Ended
		Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($) Unit
SIFMA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate			2.25%
Governmental Issuer Loans [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Units		2,419	1,832	[1]
Amortized Cost \| $		$ 300,230,435	$ 184,767,450
Governmental Issuer Loans [Member] \| Scharbauer Flats Apartments [Member] \| TOB Trust [Member] \| Midland, TX [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	June 2020	June 2020
Units	[1]	300	300
Maturity Date	[1],[2]	Jul. 01, 2023	Jan. 01, 2023
Current Interest Rate	[1]	6.76%	3.20%
Amortized Cost \| $	[1]	$ 40,000,000	$ 40,000,000
Governmental Issuer Loans [Member] \| Scharbauer Flats Apartments [Member] \| TOB Trust [Member] \| SIFMA [Member] \| Midland, TX [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.10%	3.10%
Governmental Issuer Loans [Member] \| Oasis at Twin Lakes [Member] \| TOB Trust [Member] \| Roseville, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	July 2020	July 2020
Units	[1]	228	228
Maturity Date	[1],[2]	Aug. 01, 2023	Aug. 01, 2023
Current Interest Rate	[1]	5.91%	3.75%
Amortized Cost \| $	[1]	$ 34,000,000	$ 34,000,000
Governmental Issuer Loans [Member] \| Oasis at Twin Lakes [Member] \| TOB Trust [Member] \| SIFMA [Member] \| Roseville, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	2.25%	3.25%	[4]
Governmental Issuer Loans [Member] \| Centennial Crossings [Member] \| TOB Trust [Member] \| Centennial, CO [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	August 2020	August 2020
Units	[1]	209	209
Maturity Date	[1],[2]	Sep. 01, 2023	Sep. 01, 2023
Current Interest Rate	[1]	6.41%	3.25%
Amortized Cost \| $	[1]	$ 33,080,000	$ 33,080,000
Governmental Issuer Loans [Member] \| Centennial Crossings [Member] \| TOB Trust [Member] \| SIFMA [Member] \| Centennial, CO [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	2.75%	2.75%
Governmental Issuer Loans [Member] \| Legacy Commons at Signal Hills [Member] \| TOB Trust [Member] \| St Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	January 2021	January 2021
Units	[1]	247	247
Maturity Date	[1],[2]	Feb. 01, 2024	Feb. 01, 2024
Current Interest Rate	[1]	7.37%	3.57%
Amortized Cost \| $	[1]	$ 34,620,000	$ 33,120,605
Governmental Issuer Loans [Member] \| Legacy Commons at Signal Hills [Member] \| TOB Trust [Member] \| SOFR [Member] \| St Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.07%	3.07%
Governmental Issuer Loans [Member] \| Hilltop at Signal Hills [Member] \| TOB Trust [Member] \| St Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	January 2021	January 2021
Units	[1]	146	146
Maturity Date	[1],[2]	Aug. 01, 2023	Aug. 01, 2023
Current Interest Rate	[1]	7.37%	3.57%
Amortized Cost \| $	[1]	$ 24,450,000	$ 21,550,584
Governmental Issuer Loans [Member] \| Hilltop at Signal Hills [Member] \| TOB Trust [Member] \| SOFR [Member] \| St Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.07%	3.07%
Governmental Issuer Loans [Member] \| Hope on Avalon [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Maturity Date	[5]	Feb. 01, 2023
Governmental Issuer Loans [Member] \| Hope on Avalon [Member] \| TOB Trust [Member] \| Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021	January 2021
Units		88	88	[1]
Maturity Date	[2]	Aug. 01, 2023	Feb. 01, 2023
Current Interest Rate		7.41%	4.60%
Amortized Cost \| $		$ 23,390,000	$ 9,981,200
Governmental Issuer Loans [Member] \| Hope on Avalon [Member] \| TOB Trust [Member] \| SIFMA [Member] \| Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[3]	3.75%	3.75%
Governmental Issuer Loans [Member] \| Hope on Broadway [Member] \| TOB Trust [Member] \| Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		January 2021	January 2021
Units		49	49	[1]
Maturity Date	[2]	Aug. 01, 2023	Feb. 01, 2023
Current Interest Rate		7.41%	4.60%
Amortized Cost \| $		$ 12,105,623	$ 3,691,245
Governmental Issuer Loans [Member] \| Hope on Broadway [Member] \| TOB Trust [Member] \| SIFMA [Member] \| Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[3]	3.75%	3.75%
Governmental Issuer Loans [Member] \| Osprey Village [Member] \| TOB Trust [Member] \| Kissimmee, FL [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	July 2021	July 2021
Units	[1]	383	383
Maturity Date	[1],[2]	Aug. 01, 2024	Aug. 01, 2024
Current Interest Rate	[1]	6.88%	3.57%
Amortized Cost \| $	[1]	$ 39,893,040	$ 6,372,030
Governmental Issuer Loans [Member] \| Osprey Village [Member] \| TOB Trust [Member] \| SOFR [Member] \| Kissimmee, FL [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.07%	3.07%
Governmental Issuer Loans [Member] \| Willow Place Apartments [Member] \| TOB Trust [Member] \| McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	September 2021	September 2021
Units	[1]	182	182
Maturity Date	[1],[2]	Oct. 01, 2024	Oct. 01, 2024
Current Interest Rate	[1]	7.11%	3.55%
Amortized Cost \| $	[1]	$ 17,354,472	$ 2,971,786
Governmental Issuer Loans [Member] \| Willow Place Apartments [Member] \| TOB Trust [Member] \| SOFR [Member] \| McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.30%	3.30%
Governmental Issuer Loans [Member] \| Magnolia Heights [Member] \| TOB Trust [Member] \| Covington Georgia [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	June 2022
Units	[1]	200
Maturity Date	[1],[2]	Jul. 01, 2024
Current Interest Rate	[1]	7.66%
Amortized Cost \| $	[1]	$ 20,400,000
Governmental Issuer Loans [Member] \| Magnolia Heights [Member] \| TOB Trust [Member] \| SOFR [Member] \| Covington Georgia [Member]
Governmental Issuer Loans [Line Items]
Variable Interest Rate	[1],[3]	3.85%
Governmental Issuer Loans [Member] \| Poppy Grove I [Member] \| TOB Trust [Member] \| Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[6]	September 2022
Units	[1],[6]	147
Maturity Date	[1],[2],[6]	Apr. 01, 2025
Variable Interest Rate	[1],[3],[6]	6.78%
Current Interest Rate	[1],[6]	6.78%
Amortized Cost \| $	[1],[6]	$ 7,846,000
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Units	[7]	82
Maturity Date	[7]	Apr. 01, 2025
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member] \| TOB Trust [Member] \| Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[6]	September 2022
Units	[1],[6]	82
Maturity Date	[1],[2],[6]	Apr. 01, 2025
Variable Interest Rate	[1],[3],[6]	6.78%
Current Interest Rate	[1],[6]	6.78%
Amortized Cost \| $	[1],[6]	$ 4,541,300
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Units	[7]	158
Maturity Date	[7]	Apr. 01, 2025
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member] \| TOB Trust [Member] \| Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1],[6]	September 2022
Units	[1],[6]	158
Maturity Date	[1],[2],[6]	Apr. 01, 2025
Variable Interest Rate	[1],[3],[6]	6.78%
Current Interest Rate	[1],[6]	6.78%
Amortized Cost \| $	[1],[6]	$ 8,550,000

[1] The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. The variable rate decreases to SIFMA plus 2.25 % upon completion of construction. The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees.

Governmental Issuer Loans - S_2

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Parenthetical) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Maximum [Member] \| Governmental Issuer Loans [Member] \| Poppy Grove [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	$ 3,800,000
Maximum [Member] \| Governmental Issuer Loans [Member] \| Poppy Grove II [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	2,200,000
Maximum [Member] \| Governmental Issuer Loans [Member] \| Poppy Grove III [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount	$ 4,200,000
Floor Rate [Member] \| Minimum [Member] \| Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Variable rate	0%	0%
Floor Rate [Member] \| Maximum [Member] \| Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Variable rate	0.85%	0.85%
SIFMA [Member]
Governmental Issuer Loans [Line Items]
Variable rate		2.25%

Governmental Issuer Loans - Add

Governmental Issuer Loans - Additional Information (Details) $ in Millions	Dec. 31, 2022 USD ($) Entities Property	Dec. 31, 2021 USD ($) Property
Governmental Issuer Loans [Line Items]
Number of Variable Interest Entities \| Property	35	30
Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Outstanding principal	$ 223.4
Number of Variable Interest Entities \| Entities	2
Governmental Issuer Loans [Member] \| Legacy Commons at Signal Hills [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		$ 34.6
Governmental Issuer Loans [Member] \| Hilltop at Signal Hills [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		24.5
Governmental Issuer Loans [Member] \| Hope on Avalon - taxable GIL [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		23.4
Governmental Issuer Loans [Member] \| Hope on Broadway [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		12.1
Governmental Issuer Loans [Member] \| Osprey Village [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		60
Governmental Issuer Loans [Member] \| Willow Place Apartments [Member]
Governmental Issuer Loans [Line Items]
Loans commitment		$ 25
Governmental Issuer Loans [Member] \| Magnolia Heights [Member]
Governmental Issuer Loans [Line Items]
Loans commitment	$ 20.4
Governmental Issuer Loans [Member] \| Poppy Grove I [Member]
Governmental Issuer Loans [Line Items]
Loans commitment	35.7
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member]
Governmental Issuer Loans [Line Items]
Loans commitment	22.3
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member]
Governmental Issuer Loans [Line Items]
Loans commitment	39.1
Property Loans [Member]
Governmental Issuer Loans [Line Items]
Outstanding principal	$ 123.8

Real Estate Assets, net - Real

Real Estate Assets, net - Real Estate Assets Owned by Partnership (Details)	Dec. 31, 2022 USD ($) Unit		Dec. 31, 2021 USD ($) Unit
Real Estate [Line Items]
Carrying Value	$ 48,213,994		$ 80,409,554
Accumulated depreciation	(11,663,516)		(20,701,922)
Real estate assets, net (Note 8)	$ 36,550,478		$ 59,707,632
Suites on Paseo [Member] \| San Diego, CA [Member]
Real Estate [Line Items]
Number of Units \| Unit	384		384
Land and Land Improvements	$ 3,199,244		$ 3,199,268
Buildings and Improvements	39,799,082		39,302,507
Carrying Value	42,998,326		$ 42,501,775
The 50/50 MF Property [Member] \| Lincoln, NE [Member]
Real Estate [Line Items]
Number of Units \| Unit			475
Buildings and Improvements			$ 33,013,039
Carrying Value			33,013,039
Vantage at San Marcos [Member] \| San Marcos TX [Member]
Real Estate [Line Items]
Land and Land Improvements	2,660,615	[1]	2,660,615	[2]
Buildings and Improvements	1,003,857	[1]	682,929	[2]
Carrying Value	3,664,472	[1]	3,343,544	[2]
Land Held for Development [Member]
Real Estate [Line Items]
Land and Land Improvements	1,551,196	[3]	1,551,196	[4]
Carrying Value	$ 1,551,196	[3]	$ 1,551,196	[4]

[1] The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information. Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE. In December 2022, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The Partnership received an unsecured property loan upon sale (Note 10) payable from future net cash flows of the property. The buyer assumed two mortgages payable associated with the property and the Partnership agreed to provide certain recourse support for the assumed mortgages. The remainder of the purchase price was funded by the issuance of a seller financing property loan to the Partnership in the amount of $ 4.8 million (Note 10). As a result of the sale, the Partnership deconsolidated The 50/50 MF Property assets and liabilities in its consolidated financial statements. The Partnership incurred costs of approximately $ 404,000 related to the sale which reduced the Partnership's gain on sale. The Partnership has deferred its entire gain on sale of approximately $ 6.6 million which is reported within accounts payable, accrued expenses and other liabilities on the consolidated balance sheets. The Partnership will recognize the deferred gain upon collection of principal of the unsecured property loan (Note 13). In November 2021, the Partnership sold the land held for development in Gardner, KS and recognized a loss on the sale of $ 14,800 . Net loss, exclusive of the gains on sale, related to The 50/50 MF Property for the years ended December 31, 2022, and 2021 is as follows: For the Years Ended December 31, 2022 2021 Net loss $ 620,728 $ 335,423

Real Estate Assets, net - Addit

Real Estate Assets, net - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Dec. 31, 2022	Nov. 30, 2021	Dec. 31, 2021
Real Estate [Line Items]
Property loans, net	$ 175,109,711		$ 68,101,268
Deferred gain on sale of property	$ 6,596,622
Costs related to sale which reduced Partnership's gain on sale			$ (14,800)
Gardner, KS [Member]
Real Estate [Line Items]
Costs related to sale which reduced Partnership's gain on sale		$ (14,800)
The 50/50 MF Property [Member]
Real Estate [Line Items]
Ownership interest sold	100%
Property loans, net	$ 4,800,000
Deferred gain on sale of property	6,600,000
Costs related to sale which reduced Partnership's gain on sale	$ 404,000

Real Estate Assets, net - Sched

Real Estate Assets, net - Schedule of Net loss, Exclusive of Gains on Sale (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
The 50/50 MF Property [Member]
Real Estate [Line Items]
Net loss	$ 620,728	$ 335,423

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2022	Oct. 31, 2022	Sep. 30, 2021	May 31, 2021	Apr. 30, 2021
Schedule Of Equity Method Investments [Line Items]
Cash received	$ 69,769,699	$ 55,425,711
Investment Income on sale of properties		(14,800)
Vantage At Hutto [Member] \| Maximum
Schedule Of Equity Method Investments [Line Items]
Equity commitment		11,200,000
Vantage At Hutto [Member] \| Minimum
Schedule Of Equity Method Investments [Line Items]
Equity commitment		10,500,000
Vantage at Loveland [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment							$ 16,300,000
Vantage at Helotes [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment						$ 12,600,000
Vantage at Fair Oaks [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment					$ 11,000,000
Vantage At McKinney Falls [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment		$ 11,400,000
Freestone At Greeley [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment				$ 16,000,000
Freestone At Cresta Bella
Schedule Of Equity Method Investments [Line Items]
Equity commitment			$ 16,400,000

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Summary of Investments in Unconsolidated Entities (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($)
Schedule Of Equity Method Investments [Line Items]
Carrying Value	$ 115,790,841	$ 107,793,522
Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Carrying Value	$ 115,790,841	77,582,675
Sold Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Carrying Value		30,210,847
Vantage At Stone Creek [Member] \| Omaha, NE [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	294
Month Commitment Executed	March 2018
Construction Completion Date	2020-04
Carrying Value	$ 5,465,967	6,143,099
Vantage At Murfreesboro [Member] \| Murfreesboro, TN [Member] \| Sold Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	September 2018
Construction Completion Date	2020-10
Carrying Value		12,240,000
Vantage At Coventry [Member] \| Omaha, NE [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	294
Month Commitment Executed	September 2018
Construction Completion Date	2021-02
Carrying Value	$ 6,826,584	7,611,614
Vantage At Conroe [Member] \| Conroe T X [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	April 2019
Construction Completion Date	2021-01
Carrying Value	$ 10,424,625	11,164,625
Vantage At O'Connor [Member] \| San Antonio, TX [Member] \| Sold Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	October 2019
Construction Completion Date	2021-06
Carrying Value		9,109,343
Vantage At Westover Hills [Member] \| San Antonio, TX [Member] \| Sold Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	January 2020
Construction Completion Date	2021-07
Carrying Value		8,861,504
Vantage At Tomball [Member] \| Tomball TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	August 2020
Construction Completion Date	2022-04
Carrying Value	$ 13,051,936	11,814,774
Vantage At Hutto [Member] \| Hutto TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	December 2021
Carrying Value	$ 12,590,292	5,629,651
Vantage At Loveland [Member] \| Loveland, CO [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	April 2021
Carrying Value	$ 18,109,568	10,913,911
Vantage At Helotes [Member] \| Helotes, TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	May 2021
Construction Completion Date	2022-11
Carrying Value	$ 14,029,032	11,350,686
Vantage at Fair Oaks [Member] \| Boerne, TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	September 2021
Carrying Value	$ 12,000,297	6,424,306
Vantage At McKinney Falls [Member] \| McKinney Falls, TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	288
Month Commitment Executed	December 2021
Carrying Value	$ 12,253,749	$ 6,530,009
Freestone At Greeley [Member] \| Greeley, CO [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	296
Carrying Value	$ 4,775,708
Freestone At Cresta Bella \| San Antonio, TX [Member] \| Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units \| Unit	296
Carrying Value	$ 6,263,083

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investment in Unconsolidated Entities (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2021 USD ($)	Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($) Unit
Schedule of Equity Method Investments [Line Items]
Gross Proceeds		$ 69,769,699	$ 55,425,711
Investment Income from sale of properties		659,132	4,614,160
Gain on Sale		$ 39,805,285	$ 15,520,749
Murfreesboro, TN [Member] \| Vantage At Murfreesboro [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit		288
Month Sold		2022-03
Gross Proceeds		$ 29,399,532
Investment Income from sale of properties		657,937
Gain on Sale		$ 16,501,596
San Antonio, TX [Member] \| Vantage At Westover Hills [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit		288
Month Sold		2022-05
Gross Proceeds		$ 20,923,784
Gain on Sale		$ 12,658,501
San Antonio, TX [Member] \| Vantage At O'Connor [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit		288
Month Sold		2022-07
Gross Proceeds		$ 19,381,976
Investment Income from sale of properties		1,195
Gain on Sale		$ 10,580,781
Bulverde T X [Member] \| Vantage At Bulverde [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit		288	288
Month Sold			2021-08
Gross Proceeds		$ 60,000	$ 18,916,961
Investment Income from sale of properties			1,392,312
Gain on Sale		$ 60,000	$ 6,954,649
Germantown T N [Member] \| Vantage At Germantown [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit		288	288
Month Sold			2021-03
Gross Proceeds		$ 4,407	$ 16,096,560
Investment Income from sale of properties			862,454
Gain on Sale		$ 4,407	$ 2,809,106
Powdersville S C [Member] \| Vantage At Powdersville [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit			288
Month Sold			2021-05
Gross Proceeds			$ 20,118,680
Investment Income from sale of properties			2,359,394
Gain on Sale			$ 5,463,484
Panama City Beach FL [Member] \| Vantage At Panama City Beach [Member]
Schedule of Equity Method Investments [Line Items]
Units \| Unit			288
Gross Proceeds	$ 294,000		$ 293,510
Gain on Sale			$ 293,510

Investments in Unconsolidated_6

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investments in Unconsolidated Entities (Parenthetical) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Cash received		$ 69,769,699	$ 55,425,711
Bulverde T X [Member] \| Vantage At Bulverde [Member]
Schedule of Equity Method Investments [Line Items]
Cash received		60,000
Vantage At Panama City Beach [Member] \| Panama City Beach FL [Member]
Schedule of Equity Method Investments [Line Items]
Cash received	$ 294,000		293,510
Vantage At Germantown [Member] \| Germantown, TN [Member]
Schedule of Equity Method Investments [Line Items]
Cash received		$ 4,407	$ 16,096,560

Investments in Unconsolidated_7

Investments in Unconsolidated Entities - Summary of Partnership's Investments in Unconsolidated Entities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Property Revenues	$ 22,048,926	$ 24,501,799
Gain on sale of property	87,602,712	42,792,935
Net income	$ 83,943,337	$ 37,836,191

Property Loans, Net - Summary o

Property Loans, Net - Summary of Partnership's Property Loans, Net of Loan Loss Allowances (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 175,604,711		$ 76,850,616
Loan Loss Allowance		(495,000)		(8,749,348)		$ (8,305,046)
Property Loan Principal, net of allowance		175,109,711		68,101,268
Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		130,002,497	[1]	47,274,576	[2]
Property Loan Principal, net of allowance		130,002,497	[1]	47,274,576	[2]
Mezzanine Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		39,000,000
Property Loan Principal, net of allowance		39,000,000
Senior Acquisition Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				13,424,579
Property Loan Principal, net of allowance				13,424,579
Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		6,602,214		16,151,461
Loan Loss Allowance		(495,000)		(8,749,348)
Property Loan Principal, net of allowance		$ 6,107,214		$ 7,402,113
Centennial Crossings [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Sep. 01, 2023	[1]	Sep. 01, 2023	[2]
Property loan receivable, outstanding balance		$ 24,250,000	[1]	$ 11,354,386	[2]
Property Loan Principal, net of allowance		$ 24,250,000	[1]	$ 11,354,386	[2]
Centennial Crossings [Member] \| LIBOR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			2.50%
Interest Rate	[1]	2.50%
Hilltop at Signal Hills [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Aug. 01, 2023	[1]	Aug. 01, 2023	[2]
Property loan receivable, outstanding balance		$ 19,718,334	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 19,718,334	[1]	$ 1,000,000	[2]
Hilltop at Signal Hills [Member] \| SOFR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.07%
Interest Rate	[1]	3.07%
Legacy Commons at Signal Hills [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Feb. 01, 2024	[1]	Feb. 01, 2024	[2]
Property loan receivable, outstanding balance		$ 29,666,905	[1]	$ 2,604,230	[2]
Property Loan Principal, net of allowance		$ 29,666,905	[1]	$ 2,604,230	[2]
Legacy Commons at Signal Hills [Member] \| SOFR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.07%
Interest Rate	[1]	3.07%
Magnolia Heights [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date	[1]	Jul. 01, 2024
Property loan receivable, outstanding balance	[1]	$ 6,188,601
Property Loan Principal, net of allowance	[1]	$ 6,188,601
Magnolia Heights [Member] \| SOFR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[1]	3.85%
Oasis at Twin Lakes [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Aug. 01, 2023	[1]	Aug. 01, 2023	[2]
Property loan receivable, outstanding balance		$ 24,018,657	[1]	$ 20,607,362	[2]
Property Loan Principal, net of allowance		$ 24,018,657	[1]	$ 20,607,362	[2]
Oasis at Twin Lakes [Member] \| LIBOR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			2.50%
Interest Rate	[1]	2.50%
Osprey Village [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Aug. 01, 2024	[1]	Aug. 01, 2024	[2]
Property loan receivable, outstanding balance		$ 1,000,000	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 1,000,000	[1]	$ 1,000,000	[2]
Osprey Village [Member] \| SOFR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.07%
Interest Rate	[1]	3.07%
Scharbauer Flats Apartments [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Jul. 01, 2023	[1]	Jan. 01, 2023	[2]
Property loan receivable, outstanding balance		$ 24,160,000	[1]	$ 9,708,598	[2]
Property Loan Principal, net of allowance		$ 24,160,000	[1]	$ 9,708,598	[2]
Scharbauer Flats Apartments [Member] \| LIBOR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			2.85%
Interest Rate	[1]	2.85%
Willow Place Apartments [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Oct. 01, 2024	[1]	Oct. 01, 2024	[2]
Property loan receivable, outstanding balance		$ 1,000,000	[1]	$ 1,000,000	[2]
Property Loan Principal, net of allowance		$ 1,000,000	[1]	$ 1,000,000	[2]
Willow Place Apartments [Member] \| SOFR [Member] \| Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.30%
Interest Rate	[1]	3.30%
SoLa Impact Opportunity Zone Fund [Member] \| Mezzanine Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Dec. 30, 2024
Interest Rate		7.875%
Property loan receivable, outstanding balance		$ 39,000,000
Property Loan Principal, net of allowance		39,000,000
Magnolia Crossing [Member] \| Senior Acquisition Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date	[3]			Dec. 01, 2022
Property loan receivable, outstanding balance	[3]			$ 13,424,579
Property Loan Principal, net of allowance	[3]			$ 13,424,579
Magnolia Crossing [Member] \| SOFR [Member] \| Senior Acquisition Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[3]			6.50%
The 50/50 MF Property [Member]
Accounts Notes And Loans Receivable [Line Items]
Property Loan Principal, net of allowance		$ 4,800,000
The 50/50 MF Property [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Mar. 11, 2048
Interest Rate		9%
Property loan receivable, outstanding balance		$ 4,803,620
Property Loan Principal, net of allowance		$ 4,803,620
Avistar (February 2013 Portfolio) [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Jun. 26, 2024		Jun. 26, 2024
Interest Rate		12%		12%
Property loan receivable, outstanding balance		$ 201,972		$ 201,972
Property Loan Principal, net of allowance		$ 201,972		$ 201,972
Avistar (June 2013 Portfolio) [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Jun. 26, 2024		Jun. 26, 2024
Interest Rate		12%		12%
Property loan receivable, outstanding balance		$ 251,622		$ 251,622
Property Loan Principal, net of allowance		$ 251,622		$ 251,622
Cross Creek [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date				Dec. 01, 2025
Interest Rate				6.15%
Property loan receivable, outstanding balance				$ 11,101,887
Loan Loss Allowance				(7,393,814)
Property Loan Principal, net of allowance				$ 3,708,073
Greens Property [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Sep. 01, 2046		Sep. 01, 2046
Interest Rate		10%		10%
Property loan receivable, outstanding balance		$ 850,000		$ 850,000
Property Loan Principal, net of allowance		$ 850,000		$ 850,000
Live 929 Apartments [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date		Jul. 31, 2049		Jul. 31, 2049
Interest Rate		8%		8%
Property loan receivable, outstanding balance		$ 495,000		$ 1,355,534
Loan Loss Allowance		$ (495,000)		$ (1,355,534)
Ohio Properties [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate				10%
Property loan receivable, outstanding balance				$ 2,390,446
Property Loan Principal, net of allowance				$ 2,390,446
Ohio Properties [Member] \| Minimum [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date				Dec. 01, 2026
Ohio Properties [Member] \| Maximum [Member] \| Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Maturity Date				Jun. 01, 2050

[1] The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. The property loans are held in trust in connection with TOB trust financings (Note 15). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0 % to 0.50 %. The index is subject to a floor of 0.25 %.

Property Loans, Net - Summary_2

Property Loans, Net - Summary of Partnership's Property Loans, Net of Loan Loss Allowances (Parenthetical) (Details)	Dec. 31, 2022	Dec. 31, 2021
Senior Construction Financing [Member] \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate	0%	0%
Senior Construction Financing [Member] \| Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate	0.50%	0.50%
SOFR [Member] \| Magnolia Crossing [Member] \| Senior Acquisition Financing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate		0.25%

Property Loans, Net - Additiona

Property Loans, Net - Additional Information (Details)	1 Months Ended						12 Months Ended
Property Loans, Net - Additional Information (Details)	Dec. 31, 2022 USD ($) Projects Unit	Sep. 30, 2022 USD ($)	Aug. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2021 USD ($)	Feb. 28, 2021 USD ($)
Property Loans Net Of Loan Loss Allowance [Line Items]
Provision for loans loss allowance								$ 444,302
Advanced additional funds							$ 131,118,766	55,738,536
Other interest income							11,875,538	1,657,840
Property loans, net	$ 175,109,711						$ 175,109,711	68,101,268
Live 929 Apartments [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Provision for loans loss allowance								444,000
Total property loan amount										$ 1,500,000	$ 1,000,000
Amount received as payment in full for outstanding principal and interest on a property loan					$ 1,000,000
Ohio Properties [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Interest earned on property loan principal								983,000
Amount received as payment in full for outstanding principal and interest on a property loan				$ 2,400,000
Accrued interest redemption on notes receivable				4,300,000
Other interest income				$ 1,700,000
Magnolia Heights [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments									$ 10,300,000
Cross Creek Property [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Amount received as payment in full for outstanding principal and interest on a property loan		$ 11,400,000
Accrued interest redemption on notes receivable		1,700,000
Advanced additional funds			$ 7,700,000
Redemption proceeds received		13,000,000
Other interest income		1,700,000
Legacy Commons at Signal Hills [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments								32,200,000
Hilltop at Signal Hills [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments								21,200,000
Osprey Village [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments								25,500,000
Willow Place Apartments [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments								21,400,000
Arbors at Hickory Ridge [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Amount received as payment in full for outstanding principal and interest on a property loan						$ 328,000
Magnolia Crossing [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Amount received as payment in full for outstanding principal and interest on a property loan		$ 14,100,000
Magnolia Crossing [Member] \| Maximum [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Property loan commitments								$ 14,500,000
SoLa Impact Opportunity Zone Fund [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Amount to paid for outstanding principal and interest on a note receivable	$ 39,000,000
Ownership interest percentage in underlying properties pledged							100%
Number of affordable housing projects \| Projects	26
Number of commercial/mixed use projects \| Projects	1
Number of Units \| Unit	922						922
The 50/50 MF Property [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Ownership interest sold	100%
Property loans, net	$ 4,800,000						$ 4,800,000

Property Loans, Net - Summary_3

Property Loans, Net - Summary of Changes in Partnership's Loan Loss Allowance (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Balance, beginning of period		$ 8,749,348	$ 8,305,046
Provision for loan loss			444,302
Write-off	[1]	(7,393,815)
Other reductions	[2]	(860,533)
Balance, end of period		$ 495,000	$ 8,749,348

[1] The loan loss allowance write-off for the year ended December 31, 2022 is due to the redemption of all Cross Creek property loan balances in September 2022. The reduction in the loan loss allowance for the year ended December 31, 2022 is due to a principal payment received on the Live 929 Apartments property loan as part of the restructuring of the outstanding debt of Live 929 Apartments (Note 6) in January 2022.

Income Tax Provision - Summary

Income Tax Provision - Summary of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Provision [Line Items]
Total income tax expense (benefit)	$ (51,194)	$ 63,792
Greens Hold Co [Member]
Income Tax Provision [Line Items]
Current income tax expense (benefit)	(6,138)	152,847
Deferred income tax expense (benefit)	(45,056)	(89,055)
Total income tax expense (benefit)	$ (51,194)	$ 63,792

Income Tax Provision - Addition

Income Tax Provision - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Provision [Line Items]
Valuation allowance	$ 0	$ 0
Accrued interest or penalties	0	0
Uncertain tax positions	$ 0	0
Earliest Tax Year [Member]
Income Tax Provision [Line Items]
Partnership tax returns subjected to examination	2019
Latest Tax Year [Member]
Income Tax Provision [Line Items]
Partnership tax returns subjected to examination	2021
Greens Hold Co [Member]
Income Tax Provision [Line Items]
Net deferred tax assets	$ 666,000	$ 621,000

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Other Assets [Abstract]
Deferred financing costs, net	$ 964,266	$ 1,349,097
Derivative instruments at fair value (Note 17)	7,530,438	343,418
Taxable mortgage revenue bonds, at fair value	16,531,896	3,428,443
Taxable governmental issuer loan held in trust	8,000,000	1,000,000
Bond purchase commitments, at fair value (Note 19)	98,929	964,404
Operating lease right-of-use assets, net	$ 0	$ 1,619,714
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets	Total other assets
Other assets	$ 2,649,138	$ 2,157,809
Total other assets	$ 35,774,667	$ 10,862,885

Other Assets - Additional Infor

Other Assets - Additional Information (Details)	Dec. 31, 2022 USD ($)
Other Assets [Abstract]
Taxable mortgage revenue bonds with fair value, held in trust	$ 9

Other Assets - Summary of Taxab

Other Assets - Summary of Taxable MRB and GIL Acquired (Details)		12 Months Ended
		Dec. 31, 2022 USD ($) Unit	Dec. 31, 2021 Unit	[1]
Governmental Issuer Loans [Line Items]
Taxable MRB, Initial Principal Funding		$ 7,605,000
Taxable GIL, Initial Principal Funding		$ 3,000,000
Governmental Issuer Loans [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Number of Units \| Unit		2,419	1,832
Governmental Issuer Loans [Member] \| Poppy Grove One [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Taxable GIL, Month Acquired	[2]	2022-09
Taxable GIL, Property Location	[2]	Elk Grove, CA
Number of Units \| Unit	[2]	147
Maturity Date	[2]	Apr. 01, 2025
Taxable GIL, Interest Rate	[2]	6.78%
Taxable GIL, Initial Principal Funding	[2]	$ 1,000,000
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member]
Governmental Issuer Loans [Line Items]
Taxable GIL, Total Commitment		$ 22,300,000
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Taxable GIL, Month Acquired	[2]	2022-09
Taxable GIL, Property Location	[2]	Elk Grove, CA
Number of Units \| Unit	[2]	82
Maturity Date	[2]	Apr. 01, 2025
Taxable GIL, Interest Rate	[2]	6.78%
Taxable GIL, Initial Principal Funding	[2]	$ 1,000,000
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member]
Governmental Issuer Loans [Line Items]
Taxable GIL, Total Commitment		$ 39,100,000
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member] \| TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Taxable GIL, Month Acquired	[2]	2022-09
Taxable GIL, Property Location	[2]	Elk Grove, CA
Number of Units \| Unit	[2]	158
Maturity Date	[2]	Apr. 01, 2025
Taxable GIL, Interest Rate	[2]	6.78%
Taxable GIL, Initial Principal Funding	[2]	$ 1,000,000
Mortgage Revenue Bonds [Member] \| Live929 Apartments [Member] \| Series 2022B Mortgage [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired		2022-01
Taxable MRB, Property Location		Baltimore, MD
Number of Loans \| Unit		575
Maturity Date		Jan. 01, 2029
Taxable MRB, Interest Rate		4.30%
Taxable MRB, Initial Principal Funding		$ 3,625,000
Mortgage Revenue Bonds [Member] \| The Residency at Entrepreneur [Member] \| Series J-T [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired	[3]	2022-04
Taxable MRB, Property Location	[3]	Los Angeles, CA
Number of Loans \| Unit	[3]	200
Maturity Date	[3]	Apr. 01, 2025
Taxable MRB, Initial Principal Funding	[3]	$ 1,000,000
Mortgage Revenue Bonds [Member] \| The Residency at Entrepreneur [Member] \| SOFR [Member] \| Series J-T [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Interest Rate	[3]	3.65%
Mortgage Revenue Bonds [Member] \| Park at Sondrio [Member] \| Series 2022B Mortgage [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired		2022-12
Taxable MRB, Property Location		Greenville, SC
Number of Loans \| Unit		271
Maturity Date		Jan. 01, 2030
Taxable MRB, Interest Rate		6.50%
Taxable MRB, Initial Principal Funding		$ 1,100,000
Mortgage Revenue Bonds [Member] \| Park at Vietti [Member] \| Series 2022B Mortgage [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired		2022-12
Taxable MRB, Property Location		Spartanburg, SC
Number of Loans \| Unit		204
Maturity Date		Jan. 01, 2030
Taxable MRB, Interest Rate		6.50%
Taxable MRB, Initial Principal Funding		$ 880,000
Mortgage Revenue Bonds [Member] \| Residency at Empire - Series BB-2 [Member] \| Series BB-T Mortgage [Member]
Governmental Issuer Loans [Line Items]
Taxable MRB, Month Acquired	[4]	2022-12
Taxable MRB, Property Location	[4]	Burbank, CA
Number of Loans \| Unit	[4]	148
Maturity Date	[4]	Dec. 01, 2025
Taxable MRB, Interest Rate	[4]	7.45%
Taxable MRB, Initial Principal Funding	[4]	$ 1,000,000

[1] The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 22). The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $ 21.2 million, $ 10.9 million, and $ 24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees. The Partnership has committed to provide total funding for this taxable MRB of $ 13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92 % The Partnership has committed to provide total funding for the taxable MRB of $ 9.4 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.

Other Assets - Summary of Tax_2

Other Assets - Summary of Taxable MRB and GIL Acquired (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Governmental Issuer Loans [Line Items]
Total Commitments	$ 645,657,972
Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods	6 months
Governmental Issuer Loans [Member] \| Poppy Grove I [Member]
Governmental Issuer Loans [Line Items]
Total Commitments	$ 21.2
Governmental Issuer Loans [Member] \| Poppy Grove I I [Member]
Governmental Issuer Loans [Line Items]
Total Commitments	10.9
Governmental Issuer Loans [Member] \| Poppy Grove I I I [Member]
Governmental Issuer Loans [Line Items]
Total Commitments	$ 24.5
Mortgage Revenue Bonds [Member] \| The Residency At Entrepreneur [Member] \| Series J-T [Member]
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods	6 months
Floor rate	3.92%
Commitment to provide maximum funding of taxable MRB	$ 13
Mortgage Revenue Bonds [Member] \| Residency at Empire - Series BB-2 [Member] \| Series BB-T Mortgage [Member]
Governmental Issuer Loans [Line Items]
Tax exempt loan maturity periods	6 months
Commitment to provide maximum funding of taxable MRB	$ 9.4

Other Assets - Summary of Tax_3

Other Assets - Summary of Taxable Governmental Issuer Loan and MRB, and Total Funding Commitment (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Taxable GIL, Initial Principal Funding		$ 3,000,000
Taxable MRB, Initial Principal Funding		7,605,000
Total Commitment		$ 23,073,000
Governmental Issuer Loans [Member] \| Hope on Avalon - taxable GIL [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Taxable GIL, Total Commitment			$ 23,400,000
Governmental Issuer Loans [Member] \| Hope on Avalon - taxable GIL [Member] \| TOB Trust [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Date Committed		2021-01
Maturity Date	[1]	Feb. 01, 2023
Taxable GIL, Initial Principal Funding		$ 1,000,000
Taxable GIL, Total Commitment		$ 10,573,000
Mortgage Revenue Bonds [Member] \| Residency at the Mayer Series A-T - taxable MRB [Member] \| TOB Trust [Member] \| Series A-T [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Date Committed		2021-10
Maturity Date	[2]	Apr. 01, 2024
Taxable MRB, Initial Principal Funding		$ 1,000,000
Taxable MRB, Total Commitment		$ 12,500,000

[1] The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The borrower may elect to extend the maturity date six months if stabilization has not occurred, subject to the Partnership's approval.

Other Assets -Summary of Taxabl

Other Assets -Summary of Taxable Governmental Issuer Loan and MRB, and Total Funding Commitment (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022
Mortgage Revenue Bonds [Member] \| Residency at the Mayer [Member] \| Series A-T [Member] \| TOB Trust [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Tax Exempt Loan Maturity Periods	6 months
Governmental Issuer Loans [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Tax Exempt Loan Maturity Periods	6 months
Governmental Issuer Loans [Member] \| Hope On Avalon [Member] \| TOB Trust [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Tax Exempt Loan Maturity Periods	6 months

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities - Summary of Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts payable	$ 1,244,918	$ 1,234,111
Accrued expenses	4,888,438	4,102,381
Accrued interest expense	7,186,021	4,229,119
Operating lease liabilities		$ 2,151,991
Operating Lease, Liability, Statement of Financial Position [Extensible List]		Total accounts payable, accrued expenses and other liabilities
Deferred gain on sale of property	6,596,622
Other liabilities	1,817,507	$ 1,946,610
Total accounts payable, accrued expenses and other liabilities	$ 21,733,506	$ 13,664,212

Accounts Payable, Accrued Exp_4

Accounts Payable, Accrued Expenses and Other Liabilities - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Deferred gain on sale of property	$ 6,596,622	$ 6,596,622
The 50/50 MF Property [Member]
Lessee Lease Description [Line Items]
Initial lease term expiration period		2048-03
Expenses related to the agreement		$ 162,000	$ 168,000
Ownership interest sold	100%
Deferred gain on sale of property	$ 6,600,000	$ 6,600,000

Accounts Payable, Accrued Exp_5

Accounts Payable, Accrued Expenses and Other Liabilities - Summary of Future Contractual Payments for Partnership's Operating Leases and Reconciliation to Carrying Value of Operating Lease Liabilities (Details)	Dec. 31, 2021 USD ($)
Payables and Accruals [Abstract]
Total operating lease liabilities	$ 2,151,991

Secured Line of Credit - Summar

Secured Line of Credit - Summary of Secured Line of Credit (Details) - Secured Line Of Credit Facility [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
Line of Credit Facility [Line Items]
Lines of credit	$ 55,500,000		$ 45,714,000
Total Commitment	90,000,000		90,000,000
Bank United General [Member]
Line of Credit Facility [Line Items]
Lines of credit	6,500,000		6,500,000
Total Commitment	$ 40,000,000		$ 40,000,000
Commitment Maturity	2023-06	[1]	2023-06	[2]
Variable / Fixed	Variable	[3]	Variable	[4]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	7.42%		3.50%
Bankers Trust Acquisition [Member]
Line of Credit Facility [Line Items]
Lines of credit	$ 49,000,000		$ 39,214,000
Total Commitment	$ 50,000,000		$ 50,000,000
Commitment Maturity	2024-06	[5]	2023-06
Variable / Fixed	Variable	[6]	Variable	[7]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	6.68%		3.10%

[1] The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited, N.A. (“BankUnited”) if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The secured credit agreement contains terms for selecting an alternative index if LIBOR is no longer available. The variable rate is equal to LIBOR + 3.25 %, subject to an all-in floor of 3.50 %. The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee. The variable rate is equal to 2.50 % plus a variable component based on the 1-month forward looking term Secured Overnight Financing Rate as published by CME Group Benchmark Administration Limited (“Term SOFR”). The variable rate is equal to the greater of (i) the Prime Rate or (ii) 3.25 % per annum; plus or minus a margin varying from 0.35 % to ( 0.65 %) depending upon the ratio of the Partnership’s senior debt to market value of assets.

Secured Line of Credit - Summ_2

Secured Line of Credit - Summary of Secured Line of Credit (Parenthetical) (Details) - Secured Line Of Credit Facility [Member]	12 Months Ended
	Dec. 31, 2022 USD ($) Extension	Dec. 31, 2021 Extension
Bank United General [Member]
Line of Credit Facility [Line Items]
Debt instrument number of extensions	2	2
Debt instrument extended maturity period	1 year	1 year
Payment of extension fee percentage	0.25%	0.25%
Bank United General [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate	3.25%	3.25%
Floor rate	3.50%	3.50%
Bankers Trust Acquisition [Member]
Line of Credit Facility [Line Items]
Debt instrument number of extensions	2
Debt instrument extended maturity period	1 year
Debt instrument variable rate		3.25%
Payment of extension fee \| $	$ 25,000
Bankers Trust Acquisition [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate		0.35%
Bankers Trust Acquisition [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate		(0.65%)
Bankers Trust Acquisition [Member] \| SOFR [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate	2.50%

Secured Line of Credit - Additi

Secured Line of Credit - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Aug. 31, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Bankers Trust Non-operating [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 50,000,000
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity			$ 90,000,000	$ 90,000,000
Minimum liquidity		$ 5,000,000
Minimum consolidated tangible net worth		$ 100,000,000
Percentage of minimum consolidated net worth decline from immediately preceding quarter		20%
Percentage of minimum consolidated net worth decline from date at the end of two consecutive calendar quarters ending immediately thereafter		35%
Debt instrument, covenant compliance			The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $5 million, maintain a minimum consolidated tangible net worth of $100.0 million, and to notify BankUnited if the Partnership’s consolidated net worth declines by (a) more than 20% from the immediately preceding quarter, or (b) more than 35% from the date at the end of two consecutive calendar quarters ending immediately thereafter. The Partnership was in compliance with all covenants as of December 31, 2022.
Secured Line Of Credit Facility [Member] \| BankUnited, N.A. and Bankers Trust Company [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity		$ 40,000,000
Aggregate available commitment cannot exceed borrowing base calculation equal to multiplied by the aggregate value of pool of eligible encumbered assets percentage		40%
Percentage of partnership's capital contributions to equity investments		100%
Secured Line Of Credit Facility [Member] \| BankUnited, N.A [Member]
Line of Credit Facility [Line Items]
Minimum amount required to maintain security interest in bank account		$ 5,000,000
Secured Line Of Credit Facility [Member] \| Bankers Trust Non-operating [Member]
Line of Credit Facility [Line Items]
Debt instrument, payment terms			Advances on the Acquisition LOC are due on the 270th day following the advance date but may be extended for up to three additional 90-day periods
Required percentage of principal payment for first extension	5%
Required percentage of principal payment for second extension	10%
Required percentage of principal payment for third extension	20%

Debt Financing - Schedule of To

Debt Financing - Schedule of Total Debt Financing (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Debt financing		$ 1,058,903,952		$ 820,078,714
Period End Rates		8.25%
TEBS Financings [Member]
Debt Instrument [Line Items]
Debt financing		$ 324,524,617		$ 356,638,616
Period End Rates		4.08%		3.19%
TEBS Financings [Member] \| Variable - M31 [Member]
Debt Instrument [Line Items]
Debt financing		$ 75,570,121	[1]	$ 76,964,051	[2]
Restricted Cash		$ 4,999	[1]	$ 4,999	[2]
Stated Maturities		2024	[1]	2024	[2]
Tax-Exempt Interest on Senior Securities		Yes	[1]	Yes	[2],[3]
Remarketing Senior Securities Rate		3.69%	[1]	0.13%	[2],[4]
Facility Fees		1.55%	[1]	1.32%	[2]
Period End Rates		5.24%	[1]	1.45%	[2]
TEBS Financings [Member] \| Fixed - M24 [Member]
Debt Instrument [Line Items]
Debt financing		$ 7,489,619		$ 35,551,762
Restricted Cash		$ 204,000		$ 204,000
Stated Maturities		2027		2027
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Period End Rates		3.05%		3.05%
TEBS Financings [Member] \| Fixed - M33 [Member]
Debt Instrument [Line Items]
Debt financing		$ 29,549,954		$ 30,191,051
Restricted Cash		$ 2,606		$ 2,606
Stated Maturities		2030		2030
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Period End Rates		3.24%		3.24%
TEBS Financings [Member] \| Fixed - M45 [Member]
Debt Instrument [Line Items]
Debt financing		$ 211,914,923	[6]	$ 213,931,752	[7]
Restricted Cash		$ 5,000	[6]	$ 5,000	[7]
Stated Maturities		2034	[6]	2034	[7]
Tax-Exempt Interest on Senior Securities		Yes	[3],[6]	Yes	[5],[7]
Period End Rates		3.82%	[6]	3.82%	[7]
Secured Line Of Credit Facility [Member] \| Variable - Notes [Member]
Debt Instrument [Line Items]
Debt financing		$ 102,488,160		$ 102,798,158
Restricted Cash		$ 35,979,743		$ 77,531,264
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		No	[3]	N/A	[5]
Period End Rates		13.05%	[8]	9.20%
TOB Trusts Securitization [Member]
Debt Instrument [Line Items]
Debt financing		$ 619,060,166		$ 347,726,750
Period End Rates		5.19%		1.35%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Live 929 Apartments [Member]
Debt Instrument [Line Items]
Debt financing				$ 31,564,286
Stated Maturities				2023
Tax-Exempt Interest on Senior Securities	[5]			Yes
Remarketing Senior Securities Rate	[9]			0.23%
Facility Fees				1.66%
Period End Rates				1.89%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Montecito at Williams Ranch - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 6,872,074	[10]	$ 6,919,404
Stated Maturities		2025		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.62%	[4]	0.23%	[9]
Facility Fees		1.17%		1.17%
Period End Rates		4.79%		1.40%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Montevista - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 5,650,044	[10]	$ 5,674,091
Stated Maturities		2023		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.86%	[4]	0.23%	[9]
Facility Fees		1.27%		1.27%
Period End Rates		5.13%		1.50%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Vineyard Gardens - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 3,592,692	[10]	$ 3,590,598
Stated Maturities		2025		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.67%	[4]	0.23%	[9]
Facility Fees		1.17%		1.17%
Period End Rates		4.84%		1.40%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| The Park at Sondrio - Series 2022A [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 30,354,275
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		1.43%
Period End Rates		5.31%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| The Park at Vietti - Series 2022A [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 21,489,569
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		1.43%
Period End Rates		5.31%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Avistar at Copperfield - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 11,501,641	[10]	$ 11,617,039
Stated Maturities		2025		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.80%	[4]	0.30%	[9]
Facility Fees		1.67%		1.67%
Period End Rates		5.47%		1.97%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Avistar at Wilcrest - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,350,640	[10]	$ 4,392,032
Stated Maturities		2025		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.88%	[4]	0.30%	[9]
Facility Fees		1.67%		1.67%
Period End Rates		5.55%		1.97%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Avistar at Wood Hollow - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 33,092,580	[10]	$ 33,446,044
Stated Maturities		2027		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.88%	[4]	0.30%	[9]
Facility Fees		1.44%		1.67%
Period End Rates		5.32%		1.97%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Live929 [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 53,092,000
Stated Maturities		2027
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		1.18%
Period End Rates		5.06%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Gateway Village [Member]
Debt Instrument [Line Items]
Debt financing				$ 2,177,527
Stated Maturities				2023
Tax-Exempt Interest on Senior Securities	[5]			Yes
Remarketing Senior Securities Rate	[9]			0.30%
Facility Fees				1.67%
Period End Rates				1.97%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Lynnhaven Apartments [Member]
Debt Instrument [Line Items]
Debt financing				$ 2,891,534
Stated Maturities				2023
Tax-Exempt Interest on Senior Securities	[5]			Yes
Remarketing Senior Securities Rate	[9]			0.30%
Facility Fees				1.67%
Period End Rates				1.97%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Trust 2020-XF2907 [Member]
Debt Instrument [Line Items]
Debt financing	[11]			$ 96,297,732
Stated Maturities	[11]			2023
Tax-Exempt Interest on Senior Securities	[5],[11]			No
Remarketing Senior Securities Rate	[9],[11]			0.18%
Facility Fees	[11]			0.89%
Period End Rates	[11]			1.07%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Trust 2020-XF2908 [Member]
Debt Instrument [Line Items]
Debt financing		$ 43,472,232	[10],[12]	$ 18,845,580	[13]
Stated Maturities		2023	[12]	2023	[13]
Tax-Exempt Interest on Senior Securities		No	[3],[12]	No	[5],[13]
Remarketing Senior Securities Rate		4.57%	[4],[12]	0.18%	[9],[13]
Facility Fees		0.89%	[12]	0.89%	[13]
Period End Rates		5.46%	[12]	1.07%	[13]
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Trust 2021-XF2926 [Member]
Debt Instrument [Line Items]
Debt financing		$ 70,402,736	[10],[14]	$ 71,519,933	[15]
Stated Maturities		2024	[14]	2024	[15]
Tax-Exempt Interest on Senior Securities		No	[3],[14]	No	[5],[15]
Remarketing Senior Securities Rate		4.57%	[4],[14]	0.18%	[9],[15]
Facility Fees		0.89%	[14]	0.89%	[15]
Period End Rates		5.46%	[14]	1.07%	[15]
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Trust 2021-XF2939 [Member]
Debt Instrument [Line Items]
Debt financing		$ 7,341,558	[10],[16]	$ 27,183,562	[17]
Stated Maturities		2024	[16]	2024	[17]
Tax-Exempt Interest on Senior Securities		No	[3],[16]	No	[5],[17]
Remarketing Senior Securities Rate		4.57%	[4],[16]	0.18%	[9],[17]
Facility Fees		1.16%	[16]	1.16%	[17]
Period End Rates		5.73%	[16]	1.34%	[17]
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Residency at the Entrepreneur MRBs [ Member ]
Debt Instrument [Line Items]
Debt financing	[10]	$ 16,513,817
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	No
Remarketing Senior Securities Rate	[4]	4.57%
Facility Fees		1.18%
Period End Rates		5.75%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Scharbauer Flats GIL [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 36,000,000
Stated Maturities		2024
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		0.91%
Period End Rates		4.79%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Oasis at Twin Lakes GIL [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 30,600,000
Stated Maturities		2024
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		0.91%
Period End Rates		4.79%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Centennial Crossings GIL [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 29,772,000
Stated Maturities		2024
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		0.91%
Period End Rates		4.79%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Legacy Commons at Signal Hills & Hilltop at Signal Hills GILs [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 53,160,000
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		0.91%
Period End Rates		4.79%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Osprey Village GIL [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 32,905,000
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.88%
Facility Fees		1.19%
Period End Rates		5.07%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Residency at the Mayer - Series A [Member]
Debt Instrument [Line Items]
Debt financing	[10]	$ 21,450,000
Stated Maturities		2024
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.86%
Facility Fees		1.19%
Period End Rates		5.05%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Hope on Avalon GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 18,695,484	[10]	$ 7,931,925
Stated Maturities		2023		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.86%	[4]	0.23%	[9]
Facility Fees		1.44%		1.42%
Period End Rates		5.30%		1.65%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Hope on Broadway GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 9,670,809	[10]	$ 2,919,748
Stated Maturities		2023		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.86%	[4]	0.23%	[9]
Facility Fees		1.44%		1.42%
Period End Rates		5.30%		1.65%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Ocotillo Springs Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 9,978,639	[10]	$ 13,482,312
Stated Maturities		2023		2022
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.86%	[4]	0.23%	[9]
Facility Fees		0.91%		0.89%
Period End Rates		4.77%		1.12%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Mizuho Capital Markets [Member] \| Jackson Manor Apartments [Member]
Debt Instrument [Line Items]
Debt financing		$ 5,859,141	[10]	$ 4,133,705
Stated Maturities		2023		2023
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Remarketing Senior Securities Rate		3.88%	[4]	0.23%	[9]
Facility Fees		1.29%		1.27%
Period End Rates		5.17%		1.50%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Barclays Capital Inc [Member] \| Trust 2021-XF-2953 [Member]
Debt Instrument [Line Items]
Debt financing		$ 46,548,777	[18]	$ 3,139,698	[19]
Stated Maturities		2023	[18]	2022	[19]
Tax-Exempt Interest on Senior Securities		No	[3],[18]	No	[5],[19]
Remarketing Senior Securities Rate		4.42%	[4],[18]	0.14%	[9],[19]
Facility Fees		1.27%	[18]	1.27%	[19]
Period End Rates		5.69%	[18]	1.41%	[19]
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Barclays Capital Inc [Member] \| Poppy Grove I GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 6,258,486
Stated Maturities		2023
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.81%
Facility Fees		1.25%
Period End Rates		5.06%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Barclays Capital Inc [Member] \| Poppy Grove II GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 3,614,486
Stated Maturities		2023
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.81%
Facility Fees		1.25%
Period End Rates		5.06%
TOB Trusts Securitization [Member] \| Variable - Notes [Member] \| Barclays Capital Inc [Member] \| Poppy Grove III GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 6,821,486
Stated Maturities		2023
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[4]	3.81%
Facility Fees		1.25%
Period End Rates		5.06%
Term TOB Trust Securitization [Member] \| Morgan Stanley Bank [Member] \| Village at Avalon [Member]
Debt Instrument [Line Items]
Debt financing		$ 12,831,009		$ 12,915,190
Stated Maturities		2024		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[5]
Period End Rates		1.98%		1.98%

[1] Facility fees have a variable component. Facility fees have a variable component. The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. The M45 TEBS has an initial interest rate of 3.82 % through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39 %. These rates are inclusive of credit enhancement fees payable to Freddie Mac. The Secured Notes have a stated rate of 9.25 % plus SOFR which resets monthly. The Partnership has entered into a total return swap transaction with the Secured Notes as the reference security and a notional amount totaling the outstanding principal on the Secured Notes. The total return swap effectively nets down the interest rate on the Secured Notes. Considering the effect of the total return swap, the effective net interest rate of the Secured Notes is 7.80 % as of December 31, 2022. See Note 17 for further information on the total return swap. The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. The Partnership has restricted cash totaling approximately $ 38,000 related to its total net position with Mizuho Capital Markets. The TOB trust is securitized by the Scharbauer Flats Apartments, Oasis at Twin Lakes, and Centennial Crossings GILs. The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. The TOB trust is securitized by the Scharbauer Flats Apartments and Centennial Crossings property loans. The TOB trust is securitized by the Legacy Commons at Signal Hills property loan, Hilltop at Signal Hills property loan, Hope on Avalon The TOB trust is securitized by the Legacy Commons at Signal Hills GIL and property loan, the Hilltop at Signal Hills GIL and property loan, Hope on Avalon The TOB trust is securitized by the Residency at the Mayer taxable MRB, Ocotillo Springs taxable MRB, and Osprey Village property loan. The TOB trust is securitized by the Residency at the Mayer MRB and taxable MRB, the Ocotillo Springs taxable MRB, and the Osprey Village GIL and property loan. The TOB trust is securitized by the Willow Place GIL and property loan, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. The TOB trust is securitized by the Willow Place GIL and property loan.

Debt Financing - Schedule of _2

Debt Financing - Schedule of Total Debt Financing (Parenthetical) (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) Swap
Debt Instrument [Line Items]
Effective net interest rate	8.25%
Debt financing	$ 1,058,903,952	$ 820,078,714
Cash collateral	$ 38,000
Secured Line Of Credit Facility [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Interest Rate	9.25%
Secured Line Of Credit Facility [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Interest Rate		9%
Fixed - M45 [Member] \| Interest Rate Through July 31, 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	3.82%	3.82%
Fixed - M45 [Member] \| Interest Rate from August 1, 2023 [Member]
Debt Instrument [Line Items]
Interest Rate	4.39%	4.39%
Total Return Swaps [Member] \| Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Number of return swap transactions \| Swap		2
Total Return Swap One [Member] \| Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Effective net interest rate	7.80%	4.25%
Debt financing		$ 39,600,000
Total Return Swap Two [Member] \| Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Effective net interest rate		1%
Debt financing		$ 63,500,000

Debt Financing - Additional Inf

Debt Financing - Additional Information (Details)	12 Months Ended
Debt Financing - Additional Information (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($) Financing	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Debt financing	$ 1,058,903,952		$ 820,078,714
Termination occur percentage decrease by partners net assets in one quarter	25%
Termination occur percentage decrease by partners net assets in over one year	35%
Mizuho [Member]
Debt Instrument [Line Items]
Debt financing	$ 36,000,000
TEBS financings [Member] \| Secured Line Of Credit Facility [Member] \| Mizuho And Barclays [Member]
Debt Instrument [Line Items]
Secured notes secured by number of financing \| Financing		4
Variable - Notes [Member] \| Mizuho And Barclays [Member]
Debt Instrument [Line Items]
Debt financing		$ 103,500,000
Variable - Notes [Member] \| Mizuho And Barclays [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Variable Rate Index	equal to SOFR plus 9.25%
Variable interest rate	9.25%
Variable - Notes [Member] \| Secured Line Of Credit Facility [Member]
Debt Instrument [Line Items]
Debt financing	$ 102,488,160		102,798,158
Restricted Cash	$ 35,979,743		$ 77,531,264

Debt Financing - Schedule of Co

Debt Financing - Schedule of Contractual Maturities of Borrowings (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Debt Financing [Abstract]
2023	$ 162,790,816
2024	294,026,151
2025	286,713,546
2026	3,992,863
2027	88,291,325
Thereafter	225,691,693
Total	1,061,506,394
Unamortized deferred financing costs and debt premium	(2,602,442)
Total debt financing, net	$ 1,058,903,952	$ 820,078,714

Mortgage Payable and Other Secu

Mortgage Payable and Other Secured Financing - Summary of Partnerships' Mortgage Payable and Other Secured Financing, Net of Deferred Financing Costs (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net		$ 1,690,000	$ 26,824,543
Period End Rates		8.25%
Tax Increment Financing [Member] \| Real Estate [Member] \| The 50/50 Student Housing--UNL [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net			2,174,453
Year Acquired		2020
Stated Maturity		2025-03
Variable / Fixed		Fixed
Mortgages payable [Member] \| Real Estate [Member] \| The 50/50 Student Housing--UNL [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net			22,960,090
Year Acquired		2020
Stated Maturity		2027-04
Variable / Fixed		Fixed
Mortgages payable [Member] \| Real Estate [Member] \| Vantage at San Marcos [Member]
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	[1]	$ 1,690,000	$ 1,690,000
Year Acquired	[1]	2020
Stated Maturity	[1]	2023-11
Variable / Fixed	[1]	Variable
Period End Rates	[1]	8.25%

[1] The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5).

Mortgages Payable and Other S_3

Mortgages Payable and Other Secured Financing - Additional Information (Details)	1 Months Ended
	Dec. 31, 2022
The 50/50 MF Property [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Ownership interest sold	100%

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022
Derivative [Line Items]
Derivative notional amount		$ 194,656,088
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative notional amount		102,690,670
Total Return Swap One [Member] \| Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative notional amount		$ 102,700,000
Required cash collateral percentage		35%
Total Return Swap Two [Member] \| Mizuho Capital Markets [Member]
Derivative [Line Items]
Required cash collateral percentage	100%
Amount of obligation to return cash collateral under swap arrangement	$ 63,500,000
Increase in unrestricted cash	$ 41,300,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Terms of Partnership's Interest Rate Swap (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount		$ 194,656,088
Derivative Liability, Fair Value, Gross Asset		$ 7,199,199
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-02	2020-09
Derivative, Notional Amount		$ 55,990,000	$ 39,607,744
Derivative, Effective Date		Feb. 09, 2022
Derivative, Termination Date		Feb. 01, 2024
Derivative, Fixed Rate Paid		1.40%
Derivative, Period End Variable Rate Received		4.09%	9.20%	[1]
Derivative, Variable Rate Index		Compounded SOFR	3-month LIBOR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 2,205,130
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-03	2020-09
Derivative, Notional Amount		$ 47,850,000	$ 63,500,000
Derivative, Effective Date		Mar. 03, 2022
Derivative, Termination Date		Mar. 01, 2027
Derivative, Fixed Rate Paid		1.65%
Derivative, Period End Variable Rate Received		4.09%	9.20%	[1]
Derivative, Variable Rate Index		Compounded SOFR	3-month LIBOR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 4,048,961
Mizuho Capital Markets 3 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-10
Derivative, Notional Amount	[3]	$ 34,436,088
Derivative, Effective Date		Apr. 01, 2023
Derivative, Termination Date		Apr. 01, 2025
Derivative, Fixed Rate Paid		3.92%
Derivative, Variable Rate Index		Compounded SOFR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 131,427
Mizuho Capital Markets 4 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-12
Derivative, Notional Amount	[4]	$ 10,880,000
Derivative, Effective Date		Jan. 01, 2023
Derivative, Termination Date		Dec. 01, 2029
Derivative, Fixed Rate Paid		3.27%
Derivative, Variable Rate Index		Compounded SOFR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 370,342
Mizuho Capital Markets 5 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-12
Derivative, Notional Amount		$ 45,500,000
Derivative, Effective Date		Jan. 03, 2023
Derivative, Termination Date		Jan. 01, 2030
Derivative, Fixed Rate Paid		3.47%
Derivative, Variable Rate Index		Compounded SOFR
Derivative, Variable Debt Financing Hedged	[2]	TOB Trusts
Derivative Liability, Fair Value, Gross Asset		$ 443,339

[1] Variable rate equal to 3-month LIBOR + 9.00 % See Notes 15 and 23 for additional details The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million. The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 47.8 million.

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Terms of Partnership's Interest Rate Swap (Parenthetical) (Details)	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Derivative, Notional Amount	$ 194,656,088
Mizuho Capital Markets 3 [Member]
Derivative [Line Items]
Derivative, Notional Amount	34,436,088	[1]
Mizuho Capital Markets 3 [Member] \| Maximum [Member]
Derivative [Line Items]
Derivative, Notional Amount	99,600,000
Mizuho Capital Markets 4 [Member]
Derivative [Line Items]
Derivative, Notional Amount	10,880,000	[2]
Mizuho Capital Markets 4 [Member] \| Maximum [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 47,800,000

[1] The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 99.6 million. The notional amount increases according to a schedule in accordance with the terms of the interest rate swap agreement up to a maximum notional amount of $ 47.8 million.

Derivative Instruments - Summ_3

Derivative Instruments - Summary of Terms of Partnership's Total Return Swaps (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Notional Amount		$ 194,656,088
Derivative, Fair Value Liability		$ 239,612	$ 292,328
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-02	2020-09
Derivative, Notional Amount		$ 55,990,000	$ 39,607,744
Derivative, Effective Date			2020-09
Derivative, Termination Date			2025-09
Derivative, Period End Variable Rate Paid	[1]		4.25%
Derivative, Period End Variable Rate Received		4.09%	9.20%	[2]
Derivative, Variable Rate Index		Compounded SOFR	3-month LIBOR
Derivative, Fair Value Liability			$ 77,061
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-03	2020-09
Derivative, Notional Amount		$ 47,850,000	$ 63,500,000
Derivative, Effective Date			2020-09
Derivative, Termination Date			2022-03
Derivative, Period End Variable Rate Paid	[3]		1%
Derivative, Period End Variable Rate Received		4.09%	9.20%	[2]
Derivative, Variable Rate Index		Compounded SOFR	3-month LIBOR
Derivative, Fair Value Liability			$ 215,267
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative, Trade Date		2022-12
Derivative, Notional Amount		$ 102,690,670
Derivative, Effective Date		2022-12
Derivative, Termination Date		2025-09
Derivative, Period End Variable Rate Paid	[4]	7.80%
Derivative, Period End Variable Rate Received	[5]	13.05%
Derivative, Variable Rate Index		SOFR
Derivative, Fair Value Liability		$ 239,612

[1] Variable rate equal to 3-month LIBOR + 3.75 %, subject to a floor of 4.25 % Variable rate equal to 3-month LIBOR + 9.00 % Variable rate equal to 3-month LIBOR + 0.50 %, subject to a floor of 1.00 Variable rate equal to SOFR + 4.00 %, subject to an all-in floor of 4.25 %. Variable rate equal to SOFR + 9.25 %.

Derivative Instruments - Summ_4

Derivative Instruments - Summary of Terms of Partnership's Total Return Swaps (Parenthetical) (Details)	Dec. 31, 2022	Dec. 31, 2021
Mizuho Capital Markets 1 [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate	4%	3.75%
Derivative, floor interest rate	4.25%	4.25%
Mizuho Capital Markets 2 [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate		0.50%
Derivative, floor interest rate		1%
Mizuho Capital Markets [Member]
Derivative [Line Items]
Derivative, basis spread on variable rate	9.25%	9%

Derivative Instruments - Summ_5

Derivative Instruments - Summary of Partnership's Interest Rate Cap Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
Derivative [Line Items]
Derivative, Fair Value - Asset (Liability)	$ 91,627		$ 51,090
Barclays Bank PLC [Member]
Derivative [Line Items]
Derivative, Purchase Date	2019-08		2019-08
Derivative, Notional Amount	$ 75,014,903		$ 76,544,336
Derivative, Maturity Date	2024-08		2024-08
Derivative, Effective Capped Rate	4.50%	[1]	4.50%	[2]
Derivative, Index	SIFMA		SIFMA
Derivative, Variable Debt Financing Hedged	M31 TEBS	[1]	M31 TEBS	[2]
Derivative, Fair Value - Asset (Liability)	$ 91,627		$ 51,090

[1] See Notes 15 and 23 for additional details. See Notes 15 and 23 for additional details

Commitments and Contingencies -

Commitments and Contingencies - Summary of Partnership's Bond Purchase Commitments (Details) - Bond Purchase Commitment [Member] - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Bond Purchase Commitment [Line Items]
Maximum Committed Amounts Remaining		$ 3,900,000
Fair Value		$ 98,929	$ 964,404
CCBA Senior Garden Apartments [Member]
Bond Purchase Commitment [Line Items]
Commitment Date		2020-07
Interest Rate		4.50%
Estimated Closing Date	[1]	June 2022
Fair Value			495,784
Anaheim & Walnut [Member]
Bond Purchase Commitment [Line Items]
Commitment Date		2021-09
Maximum Committed Amounts Remaining		$ 3,900,000
Interest Rate		4.85%
Estimated Closing Date		Q3 2024
Fair Value		$ 98,929	$ 468,620

[1] The closing date is actual.

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 645,657,972
Remaining Commitment as of December 31, 2022	$ 428,319,586
The Residency At Empire [Member] \| Series BB-3 [Member]
Commitments And Other Guarantees [Line Items]
Maturity Date	2029-12
Interest Rate	6%
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 177,000,000
Remaining Commitment as of December 31, 2022	$ 142,321,563
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Mayer [Member] \| Series A [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-10
Maturity Date	2039-04
Total Initial Commitment	$ 29,500,000
Remaining Commitment as of December 31, 2022	$ 3,500,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Mayer [Member] \| Series A [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%	[1]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Mayer [Member] \| Series A T Mortgage [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-10
Maturity Date	2024-04	[2]
Total Initial Commitment	$ 12,500,000
Remaining Commitment as of December 31, 2022	$ 11,500,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Mayer [Member] \| Series A T Mortgage [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.70%	[1]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| Meadow Valley [Member] \| Series A [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-12
Maturity Date	2029-12
Interest Rate	6.25%	[1]
Total Initial Commitment	$ 44,000,000
Remaining Commitment as of December 31, 2022	$ 39,276,563
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency at the Entrepreneur [Member] \| Series J-4 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2040-03
Total Initial Commitment	$ 16,420,000
Remaining Commitment as of December 31, 2022	$ 16,420,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency at the Entrepreneur [Member] \| Series J-4 [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%	[1],[3]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency at the Entrepreneur [Member] \| Series J-3 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2040-03
Interest Rate	6%	[1]
Total Initial Commitment	$ 26,080,000
Remaining Commitment as of December 31, 2022	$ 22,180,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency at the Entrepreneur [Member] \| Series J-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2025-04	[2]
Total Initial Commitment	$ 13,000,000
Remaining Commitment as of December 31, 2022	$ 12,000,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency at the Entrepreneur [Member] \| Series J-T [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.65%	[1]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Empire [Member] \| Series BB-3 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-12
Maturity Date	2040-12
Interest Rate	6.45%	[1],[4]
Total Initial Commitment	$ 14,000,000
Remaining Commitment as of December 31, 2022	$ 13,945,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Empire [Member] \| Series BB-4 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-12
Maturity Date	2040-12
Interest Rate	6.45%	[1],[5]
Total Initial Commitment	$ 47,000,000
Remaining Commitment as of December 31, 2022	$ 47,000,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] \| The Residency At Empire [Member] \| Series BB-T Mortgage [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-12
Maturity Date	2025-12	[2]
Interest Rate	7.45%	[1]
Total Initial Commitment	$ 9,404,500
Remaining Commitment as of December 31, 2022	8,404,500
Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	34,904,500
Remaining Commitment as of December 31, 2022	31,904,500
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	182,057,835
Remaining Commitment as of December 31, 2022	$ 103,873,023
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Osprey Village [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-07
Maturity Date	2024-08	[2]
Total Initial Commitment	$ 60,000,000
Remaining Commitment as of December 31, 2022	$ 20,106,960
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Osprey Village [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%	[1]
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Willow Place Apartments [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	2024-10	[2]
Total Initial Commitment	$ 25,000,000
Remaining Commitment as of December 31, 2022	$ 7,645,528
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Willow Place Apartments [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.30%	[1]
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Hope on Avalon [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2023-08	[2]
Total Initial Commitment	$ 10,573,000
Remaining Commitment as of December 31, 2022	$ 5,573,000
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Hope on Avalon [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.55%	[1]
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 35,688,328
Remaining Commitment as of December 31, 2022	$ 27,842,328
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 22,250,000
Remaining Commitment as of December 31, 2022	$ 17,708,700
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] \| Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 39,119,507
Remaining Commitment as of December 31, 2022	30,569,507
Governmental Issuer Loans [Member] \| Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	21.2
Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	67,152,465
Remaining Commitment as of December 31, 2022	$ 59,152,465
Taxable Governmental Issuer Loans [Member] \| Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 21,157,672
Remaining Commitment as of December 31, 2022	$ 20,157,672
Taxable Governmental Issuer Loans [Member] \| Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 10,941,300
Remaining Commitment as of December 31, 2022	$ 9,941,300
Taxable Governmental Issuer Loans [Member] \| Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[2]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 24,480,493
Remaining Commitment as of December 31, 2022	$ 23,480,493
Property Loans [Member] \| Osprey Village [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-07
Maturity Date	2024-08	[2]
Total Initial Commitment	$ 25,500,000
Remaining Commitment as of December 31, 2022	$ 24,500,000
Property Loans [Member] \| Osprey Village [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%	[1]
Property Loans [Member] \| Willow Place Apartments [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	2024-10	[2]
Total Initial Commitment	$ 21,351,328
Remaining Commitment as of December 31, 2022	$ 20,351,328
Property Loans [Member] \| Willow Place Apartments [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.30%	[1]
Property Loans [Member] \| Hilltop at Signal Hills [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2023-08	[2]
Total Initial Commitment	$ 21,197,939
Remaining Commitment as of December 31, 2022	$ 1,479,605
Property Loans [Member] \| Hilltop at Signal Hills [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%	[1]
Property Loans [Member] \| Legacy Commons at Signal Hills [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-01
Maturity Date	2024-02	[2]
Total Initial Commitment	$ 32,233,972
Remaining Commitment as of December 31, 2022	$ 2,567,067
Property Loans [Member] \| Legacy Commons at Signal Hills [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.07%	[1]
Property Loans [Member] \| Oasis at Twin Lakes [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2020-07
Maturity Date	2023-08	[2]
Total Initial Commitment	$ 27,704,180
Remaining Commitment as of December 31, 2022	$ 3,685,523
Property Loans [Member] \| Oasis at Twin Lakes [Member] \| LIBOR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	2.50%	[1]
Property Loans [Member] \| Magnolia Heights [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-06
Maturity Date	2024-07	[2]
Total Initial Commitment	$ 10,300,000
Remaining Commitment as of December 31, 2022	$ 4,111,399
Property Loans [Member] \| Magnolia Heights [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.85%	[1]
Joint Venture Investments [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 42,355,753
Remaining Commitment as of December 31, 2022	$ 30,473,113
Joint Venture Investments [Member] \| Vantage At San Marcos [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2020-11	[6],[7]
Total Initial Commitment	$ 9,914,529	[6],[7]
Remaining Commitment as of December 31, 2022	$ 8,943,914	[6],[7]
Joint Venture Investments [Member] \| Freestone Greeley [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-10	[6]
Total Initial Commitment	$ 16,035,710	[6]
Remaining Commitment as of December 31, 2022	$ 11,325,008	[6]
Joint Venture Investments [Member] \| Freestone Cresta Bella [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-11	[6]
Total Initial Commitment	$ 16,405,514	[6]
Remaining Commitment as of December 31, 2022	10,204,191	[6]
Joint Venture Investments [Member] \| Vantage At Loveland [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	138,287,419
Remaining Commitment as of December 31, 2022	56,694,922
Bond Purchase Commitment [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	3,900,000
Remaining Commitment as of December 31, 2022	$ 3,900,000
Bond Purchase Commitment [Member] \| Anaheim & Walnut [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	Q3 2024	[8]
Interest Rate	4.85%	[1]
Total Initial Commitment	$ 3,900,000
Remaining Commitment as of December 31, 2022	$ 3,900,000

[1] The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. Beginning December 2029 , the interest rate will change to the greater of (i) 3.25 % over the then 10-Year SOFR Swap rate, or (ii) 6.00 %. Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. A development site has been identified for this property but construction had not commenced as of December 31, 2022. The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 5). This is the estimated closing date of the associated bond purchase commitment.

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022	Apr. 30, 2022
The Residency at the Entrepreneur [Member] \| Series J-4 [Member] \| Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Fixed interest rate		8%
The Residency At Empire [Member] \| Series BB-4 [Member] \| Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Fixed interest rate	10%
The Residency At Empire [Member] \| Series BB Three Mortgage [Member]
Commitments And Other Guarantees [Line Items]
Maturity Date	2029-12
Interest Rate	6%
Minimum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	6 months
Minimum [Member] \| Floor Rate [Member]
Commitments And Other Guarantees [Line Items]
Variable Interest Rate	0%
Maximum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	12 months
Maximum [Member] \| SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.25%
Interest rate period	10 years
Maximum [Member] \| Floor Rate [Member]
Commitments And Other Guarantees [Line Items]
Variable Interest Rate	0.85%

Commitments and Contingencies_4

Commitments and Contingencies - Additional Information (Details)	1 Months Ended
	Dec. 31, 2022 USD ($)
Commitments And Other Guarantees [Line Items]
Estimated fair value of credit guaranties	$ 363,000
Greens of Pine Glen [Member]
Commitments And Other Guarantees [Line Items]
Percentage of loss contingency, range of possible loss, maximum	75%
The 50/50 MF Property [Member]
Commitments And Other Guarantees [Line Items]
Ownership interest sold	100%

Commitments and Contingencies_5

Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guaranty Agreements (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Vantage At Stone Creek [Member]
Long-term Purchase Commitment [Line Items]
Guarantee Maturity	2023	[1]
Maximum Balance Available on Loan	$ 34,222,000	[1]
Loan Balance as of December 31, 2022	34,222,000	[1]
Partnership's Maximum Exposure as of December 31, 2022	$ 17,111,000	[1]
Vantage At Coventry [Member]
Long-term Purchase Commitment [Line Items]
Guarantee Maturity	2023	[1]
Maximum Balance Available on Loan	$ 34,536,000	[1]
Loan Balance as of December 31, 2022	34,536,000	[1]
Partnership's Maximum Exposure as of December 31, 2022	17,268,000	[1]
The 50/50 MF Property--TIF Loan [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of December 31, 2022	$ 1,809,510
End of Guaranty Period	2025
The 50/50 MF Property--Mortgage [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of December 31, 2022	$ 22,419,849
End of Guaranty Period	2027
Ohio Properties [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of December 31, 2022	$ 2,310,609
End of Guaranty Period	2026
Greens of Pine Glen [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of December 31, 2022	$ 1,662,397
End of Guaranty Period	2027

[1] The Partnership’s guaranty is for 50 % of the loan balance. The Partnership has guaranteed up to 100 % of the outstanding loan balance upon the occurrence of fraud or other willful misconduct by the borrower or if the borrower voluntarily files for bankruptcy. The guaranty agreement requires the Partnership to maintain a minimum net worth of not less than $ 100.0 million and maintain liquid assets of not less than $ 5.0 million. The Partnership was in compliance with these requirements as of December 31, 2022. The Partnership has also provided indemnification to the lender for various costs including environmental non-compliance and remediation during the term.

Commitments and Contingencies_6

Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guaranty Agreements (Parenthetical) (Details) - Vantage At Murfreesboro [Member] $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Commitments And Other Guarantees [Line Items]
Guarantee obligations loan balance percentage	50%
Construction loan guarantee percentage upon occurrence of fraud, borrower willful misconduct and bankruptcy	100%
Minimum [Member]
Commitments And Other Guarantees [Line Items]
Net worth to be maintained as per guaranty agreement	$ 100
Liquid assets to be maintained as per guaranty agreement	$ 5

Redeemable Preferred Units - Ad

Redeemable Preferred Units - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Series A Preferred Units or Series A-1 Preferred Units [Member]
Redemption Price per Unit	$ 10
Minimum threshold written notice period for redemption of temporary equity	180 days
Series B Preferred Units
Redemption Price per Unit	$ 10

Redeemable Preferred Units - Su

Redeemable Preferred Units - Summary of Issuances of Preferred Units (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Preferred Units outstanding		9,450,000	9,450,000
Purchase Price		$ 94,500,000	$ 94,500,000
Series A Preferred Stock [Member]
Preferred Units outstanding		6,450,000
Purchase Price		$ 64,500,000
Series A-1 Preferred Units [Member]
Preferred Units outstanding		3,000,000
Purchase Price		$ 30,000,000
Series A Preferred Units issued on March 2016 [Member]
Preferred Units outstanding		1,000,000	1,000,000
Purchase Price		$ 10,000,000	$ 10,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[1]	2024-03
Series A Preferred Units issued on December 2016 [Member]
Preferred Units outstanding		700,000	700,000
Purchase Price		$ 7,000,000	$ 7,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[1]	2023-12
Series A Preferred Units issued on May 2016 [Member]
Preferred Units outstanding			1,386,900
Purchase Price			$ 13,869,000
Distribution Rate			3%
Redemption Price per Unit			$ 10
Series A Preferred Units issued on September 2016 [Member]
Preferred Units outstanding			1,000,000
Purchase Price			$ 10,000,000
Distribution Rate			3%
Redemption Price per Unit			$ 10
Series A Preferred Units issued on March 2017 [Member]
Preferred Units outstanding		1,000,000	1,613,100
Purchase Price		$ 10,000,000	$ 16,131,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[1]	2024-03
Series A Preferred Units issued on August 2017 [Member]
Preferred Units outstanding		2,000,000	2,000,000
Purchase Price		$ 20,000,000	$ 20,000,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date	[2]	2023-08
Series A Preferred Units issued on October 2017 [Member]
Preferred Units outstanding		1,750,000	1,750,000
Purchase Price		$ 17,500,000	$ 17,500,000
Distribution Rate		3%	3%
Redemption Price per Unit		$ 10	$ 10
Earliest Redemption Date		2023-10
Series A-1 Preferred Units issued on April 2022 [Member]
Preferred Units outstanding		2,000,000
Purchase Price		$ 20,000,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Earliest Redemption Date		2028-04
Series A-1 Preferred Units issued on October 2022 [Member]
Preferred Units outstanding		1,000,000
Purchase Price		$ 10,000,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Earliest Redemption Date		2028-10

[1] The holder did not provide a notice of its intent to redeem prior to the date 180 days before the most recent optional redemption date. Accordingly, the holder's next optional redemption date is on the next anniversary of the sale of the Series A Preferred Units. In February 2023, the holder provided notice of its intent to redeem its Series A Preferred Units in August 2023.

Issuances of Beneficial Unit _2

Issuances of Beneficial Unit Certificates - Additional Information (Details)	1 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) BeneficialUnitCertificates	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)
Issuances of Beneficial Unit Certificates [Line Items]
Proceeds from the sale of BUCs			$ 33,321,250
At The Market Offering [Member]
Issuances of Beneficial Unit Certificates [Line Items]
Number of beneficial unit certificates sold \| BeneficialUnitCertificates	0
At The Market Offering [Member] \| Beneficial Unit Certificate Holders [Member]
Issuances of Beneficial Unit Certificates [Line Items]
Aggregate offering price				$ 30,000,000
At The Market Offering [Member] \| BUCs - Restricted and Unrestricted [Member]
Issuances of Beneficial Unit Certificates [Line Items]
Partnership capital unit, amount authorized	$ 300,000,000
Registration statement expiration date	2025-12
Underwritten Public Offering [Member] \| Beneficial Unit Certificate Holders [Member]
Issuances of Beneficial Unit Certificates [Line Items]
Partners' capital account, units, sale of units \| shares		5,462,500
Proceeds from the sale of BUCs		$ 31,200,000

Restricted Unit Awards - Additi

Restricted Unit Awards - Additional Information (Details) - Restricted Unit Awards [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSU available for future issuance	478,000
Unrecognized compensation expense related to unvested RUAs granted	$ 1.1
Remaining compensation expense expected to be recognized over a weighted-average period	1 year 3 months 18 days
Intrinsic value of unvested RUAs	$ 1.5
General and Administrative Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 1.5	$ 1.3
Greystone Manager [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Approved grant of restricted units and other awards to employees	1,000,000
RUAs granted with vesting range	3 years
Greystone Manager [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RUAs granted with vesting range	3 months

Restricted Unit Awards - Summar

Restricted Unit Awards - Summary of RUA activity (Details) - Restricted Unit Awards [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Units Awarded
Beginning Balance	77,523	44,271
Granted	96,321	88,775
Vested	(81,073)	(55,523)
Forfeited	(5,437)
Ending Balance	87,334	77,523
Weighted-average Grant-Date Fair Value
Beginning Balance	$ 18.18	$ 14.94
Granted	19.33	19.47
Vested	18.26	17.67
Forfeited	18.76
Ending Balance	$ 19.33	$ 18.18

Transactions with Related Par_3

Transactions with Related Parties - Summary of Amounts Reimbursable to AFCA 2, the General Partner of AFCA 2, or an Affiliate (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Amounts reimbursable to related party	$ 654,000	$ 417,000
General Partner [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	6,827,048	5,682,526
General Partner [Member] \| Reimbursable Salaries and Benefits [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	5,763,496	4,866,841
General Partner [Member] \| Other Expenses [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	77,383	50,712
General Partner [Member] \| Office Expenses [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	269,722	250,785
General Partner [Member] \| Insurance [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	515,245	408,688
General Partner [Member] \| Professional Fees and Expenses [Member]
Related Party Transaction [Line Items]
Amounts reimbursable to related party	181,821	$ 105,500
General Partner [Member] \| Consulting And Travel Expenses Member
Related Party Transaction [Line Items]
Amounts reimbursable to related party	$ 19,381

Transactions with Related Par_4

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected on the Partnership's Consolidated Financial Statements (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities	[1]	$ 328,000	$ 156,000
Referral fees paid to an affiliate	[2]	240,607	224,750
General Partner [Member]
Related Party Transaction [Line Items]
Administrative fees	[3]	$ 5,200,000	$ 4,046,000

[1] The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s consolidated statements of operations. The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2023, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond origination costs that are deferred and amortized as a yield adjustment to the related investment asset. AFCA 2 is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to AFCA 2. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s consolidated statements of operations.

Transactions with Related Par_5

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected on the Partnership's Consolidated Financial Statements (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%
Percentage of referral fee to be received in original principal amount	0.25%

Transactions with Related Par_6

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Details) - General Partner [Member] - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Non-partnership property administrative fee received	[1]	$ 26,000	$ 35,000
Investment/mortgage placement fees earned	[2]	$ 5,487,000	$ 7,311,000

[1] AFCA 2 received administrative fees directly from the owners of certain properties financed by certain MRBs held by the Partnership. These administrative fees equal 0.45 % per annum of the outstanding principal balance of the MRBs. The disclosed amounts represent administrative fees received by AFCA 2 during the periods specified. AFCA 2 received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Transactions with Related Par_7

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%

Transactions with Related Par_8

Transactions with Related Parties - Additional Information (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Fee paid	[1]	$ 240,607	$ 224,750
Receivables due from unconsolidated entities		325,000	149,000
Outstanding liabilities due to related parties		$ 654,000	$ 417,000

[1] The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2023, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond origination costs that are deferred and amortized as a yield adjustment to the related investment asset.

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 667,698,183	$ 393,880,548
Governmental Issuer Loans [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	300,230,435	184,767,450
Governmental Issuer Loans [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 305,000,000	$ 6,800,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments (Details)		Dec. 31, 2022	Dec. 31, 2021
Taxable Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[1]	7.60%	5.90%
Taxable Mortgage Revenue Bonds [Member] \| Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		6.50%	4%
Taxable Mortgage Revenue Bonds [Member] \| Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		11.40%	8.10%
Bond Purchase Commitment [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		4.50%
Weighted Average Effective Yields	[1]	4.50%	3.20%
Bond Purchase Commitment [Member] \| Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields			3.20%
Bond Purchase Commitment [Member] \| Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields			3.30%
Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[1]	5.10%	3.10%
Mortgage Revenue Bonds [Member] \| Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		2.60%	0.90%
Mortgage Revenue Bonds [Member] \| Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		20.30%	19.10%

[1] Weighted by the total principal outstanding of all the respective securities as of the reporting date .

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	$ 823,569,267	$ 798,246,109
Fair Value, Inputs, Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	7,199,198
Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	816,370,069	798,246,109
Mortgage Revenue Bonds Held In Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	763,208,945	750,934,848
Mortgage Revenue Bonds Held In Trust [Member] \| Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	763,208,945	750,934,848
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	36,199,059	42,574,996
Mortgage Revenue Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	36,199,059	42,574,996
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	98,929	964,404
Bond Purchase Commitment [Member] \| Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	98,929	964,404
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	16,531,896	3,428,443
Taxable Mortgage Revenue Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	16,531,896	3,428,443
Derivative Financial Instruments (Reported within Other Assets) [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	7,530,438	343,418
Derivative Financial Instruments (Reported within Other Assets) [Member] \| Fair Value, Inputs, Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	7,199,198
Derivative Financial Instruments (Reported within Other Assets) [Member] \| Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	$ 331,240	$ 343,418

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Activity Related to Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		$ 798,246,109	$ 796,696,304
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		$ 7,694,218	$ 7,263,746
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Net	Interest Income (Expense), Net
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Net	Interest Income (Expense), Net
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]		OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax
Total gain (losses) Included in earnings (gain on sale of securities)			$ (1,856,893)
Total gain (losses) included in other comprehensive (loss) income		$ (70,292,021)	(18,553,747)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		196,396,044	71,672,500
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(114,813,748)	(56,975,801)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other	[1],[2]	(860,533)
Assets at Fair Value, ending balance		816,370,069	798,246,109
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to assets or liabilities held		97,662	(1,833,679)
Interest Rate Derivative Instruments [Member]
Schedule of Available-for-sale Securities [Line Items]
Derivative Assets (Liabilities) at Fair Value, beginning balance		343,418	321,503
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		5,756,111	7,126,226
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Derivative Asset (Liability), Settlements		(5,768,289)	(7,104,311)
Derivative Assets (Liabilities) at Fair Value, beginning balance		331,240	343,418
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to assets or liabilities held		40,538	23,214
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		964,404	431,879
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in other comprehensive (loss) income		(865,475)	532,525
Assets at Fair Value, ending balance		98,929	964,404
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		3,428,443	1,510,437
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		(20,028)
Total gain (losses) included in other comprehensive (loss) income		(535,793)	(72,319)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases		13,669,857	2,000,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements		(10,583)	(9,675)
Assets at Fair Value, ending balance		16,531,896	3,428,443
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance	[1]	793,509,844	794,432,485
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)	[1]	1,958,135	137,520
'Total gain (losses) Included in earnings (provision for credit loss)	[1]		(1,856,893)
Total gain (losses) included in other comprehensive (loss) income	[1]	(68,890,753)	(19,013,953)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	182,726,187	69,672,500
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(109,034,876)	(49,861,815)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other	[1],[2]	(860,533)
Assets at Fair Value, ending balance	[1]	799,408,004	793,509,844
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to assets or liabilities held	[1]	$ 57,124	$ (1,856,893)

[1] Mortgage revenue bonds include both bonds held in trust as well as those held by the Partnership. The other line is related to a re-allocation of the loan loss allowance upon restructuring of the Live 929 Apartments MRBs and property loan (Notes 6 and 10)

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Summary of Fair Value of Partnership's Financial Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Mortgages payable and other secured financing	$ 1,690,000	$ 26,824,543
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	1,058,903,952	820,078,714
Secured and Unsecured lines of credit	55,500,000	45,714,000
Mortgages payable and other secured financing	1,690,000	26,824,543
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	1,059,674,409	854,428,834
Secured and Unsecured lines of credit	55,500,000	45,714,000
Mortgages payable and other secured financing	$ 1,690,000	$ 26,825,840

Segments - Additional Informati

Segments - Additional Information (Details)	12 Months Ended
Segments - Additional Information (Details)	Dec. 31, 2022 Security Segment Property Unit
Segment Reporting Information [Line Items]
Number of Reportable Segments \| Segment	4
Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of Available for Sale Securities \| Security	76
Number of available for sale securities in tax-exempt loan \| Security	13
MF Properties Segment [Member]
Segment Reporting Information [Line Items]
Number of Real Estate Properties \| Property	1
Number of rental units under MF properties segment	384
Residential Properties [Member] \| Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds	10,822
Number of rental units financed by tax-exempt loan	2,419
Residential Properties [Member] \| Seniors and Skilled Nursing Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds	154
Commercial Real Estate [Member] \| Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of collateralized securities \| Security	1

Segments - Summary of Partnersh

Segments - Summary of Partnership Reportable Segment Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Total revenues
Total revenues	$ 22,029,835	$ 22,604,404	$ 17,232,967	$ 19,206,371	$ 19,976,409	$ 17,681,901	$ 16,406,496	$ 14,387,488	$ 81,073,577	$ 68,452,294
Interest expense
Interest expense									30,464,451	21,943,885
Depreciation expense
Depreciation expense									2,717,415	2,732,922
Net income (loss)
Net income (loss)									65,562,166	38,099,488
Total assets
Total assets	1,567,129,565				1,385,909,483				1,567,129,565	1,385,909,483
Operating Segments [Member] \| Affordable Multifamily MRB Investments [Member]
Total revenues
Total revenues									63,374,549	46,198,552
Interest expense
Interest expense									28,544,715	20,382,143
Depreciation expense
Depreciation expense									23,846	23,495
Net income (loss)
Net income (loss)									17,330,756	8,619,813
Total assets
Total assets	1,520,609,550				1,304,626,248				1,520,609,550	1,304,626,248
Operating Segments [Member] \| Seniors and Skilled Nursing MRB Investments [Member]
Total revenues
Total revenues									713,036	77,979
Interest expense
Interest expense									5,750
Net income (loss)
Net income (loss)									704,994	72,020
Total assets
Total assets	3,551,307				13,533,020				3,551,307	13,533,020
Operating Segments [Member] \| Market-Rate Joint Venture Investments [Member]
Total revenues
Total revenues									9,130,486	14,967,102
Interest expense
Interest expense									870,497	428,018
Net income (loss)
Net income (loss)									48,054,241	30,055,826
Total assets
Total assets	120,089,351				112,052,513				120,089,351	112,052,513
Operating Segments [Member] \| MF Properties [Member]
Total revenues
Total revenues									7,855,506	7,208,661
Interest expense
Interest expense									1,043,489	1,133,724
Depreciation expense
Depreciation expense									2,693,569	2,709,427
Net income (loss)
Net income (loss)									(527,825)	(648,171)
Total assets
Total assets	41,699,828				66,501,994				41,699,828	66,501,994
Consolidation, Eliminations [Member]
Total assets
Total assets	$ (118,820,471)				$ (110,804,292)				$ (118,820,471)	$ (110,804,292)

Summary of Unaudited Quarterl_3

Summary of Unaudited Quarterly Results of Operations - Summary of Unaudited Quarterly Results of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 22,029,835	$ 22,604,404	$ 17,232,967	$ 19,206,371	$ 19,976,409	$ 17,681,901	$ 16,406,496	$ 14,387,488	$ 81,073,577		$ 68,452,294
Other income - gains and loss, net	141,253	10,580,781	12,643,501	16,439,750	278,710	6,954,649	5,463,484	2,809,106
Income from continuing operations	3,174,874	18,516,593	17,606,681	26,264,018	7,853,570	12,988,384	10,264,680	6,992,854
Net income	$ 3,174,874	$ 18,516,593	$ 17,606,681	$ 26,264,018	$ 7,853,570	$ 12,988,384	$ 10,264,680	$ 6,992,854
Income from continuing operations, per BUC (Basic)	$ 0.09	$ 0.78	$ 0.74	$ 1.01	$ 0.31	$ 0.56	$ 0.39	$ 0.27
Income from continuing operations, per BUC (diluted)	0.09	0.78	0.74	1.01	0.31	0.56	0.39	0.27
Net income, basic, per BUC	0.09	0.78	0.74	1.01	0.31	0.56	0.39	0.27	$ 2.62	[1]	$ 1.53	[1]
Net income, diluted, per BUC	$ 0.09	$ 0.78	$ 0.74	$ 1.01	$ 0.31	$ 0.56	$ 0.39	$ 0.27	$ 2.62	[1]	$ 1.53	[1]

[1] On April 1, 2022, the Partnership effected a one-for-three reverse unit split of its outstanding BUCs (the “Reverse Unit Split”). On October 31, 2022, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.01044 BUCs for each BUC outstanding as of September 30, 2022 (the “Third Quarter BUCs Distribution”). On January 31, 2023, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.0105 BUCs for each BUC outstanding as of December 30, 2022 (the “Fourth Quarter BUCs Distribution”, collectively with the Third Quarter BUCs Distribution, the “BUCs Distributions”). The amounts indicated in the Consolidated Statements of Operations have been adjusted to reflect both the Reverse Unit Split and the BUCs Distributions on a retroactive basis.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)		1 Months Ended				3 Months Ended	12 Months Ended
		Feb. 28, 2023	Feb. 23, 2023	Jan. 31, 2023	Jan. 31, 2022	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Referral fees paid to an affiliate	[1]						$ 240,607	$ 224,750
Series A Preferred Units outstanding							9,450,000	9,450,000
Total Return Swap [Member] \| Mizuho Capital Markets [Member]
Subsequent Event [Line Items]
Required cash collateral percentage							35%
Series A-1 Preferred Units [Member]
Subsequent Event [Line Items]
Series A Preferred Units outstanding							3,000,000
Series A Preferred Units [Member]
Subsequent Event [Line Items]
Series A Preferred Units outstanding							6,450,000
Hope on Broadway GIL [Member]
Subsequent Event [Line Items]
Maturity date							2023-02
Hope on Avalon GIL [Member]
Subsequent Event [Line Items]
Maturity date							2023-02
Hope on Avalon Taxable GIL [Member]
Subsequent Event [Line Items]
Maturity date							2023-02
Live 929 Apartments [Member]
Subsequent Event [Line Items]
Amount received as payment in full for outstanding principal and interest on a note receivable					$ 1,000,000
Scenario Forecast [Member]
Subsequent Event [Line Items]
Gain on sale settlement of final proceeds and expenses						$ 15,200,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash received by partnership				$ 27,700,000
Subsequent Event [Member] \| Total Return Swap [Member] \| Mizuho Capital Markets [Member] \| Minimum
Subsequent Event [Line Items]
Required cash collateral percentage			30%
Subsequent Event [Member] \| Total Return Swap [Member] \| Mizuho Capital Markets [Member] \| Maximum
Subsequent Event [Line Items]
Required cash collateral percentage			35%
Subsequent Event [Member] \| Series A-1 Preferred Units [Member]
Subsequent Event [Line Items]
Number of shares issued in exchange transaction			800,000
Gross proceeds from exchange transaction			$ 8,000,000
Subsequent Event [Member] \| Series A Preferred Units [Member]
Subsequent Event [Line Items]
Number of shares issued in exchange transaction			700,000
Outstanding shares held by financial institution			700,000
Net proceeds from exchange transaction		$ 0
Series A Preferred Units outstanding			2,000,000
Redemption amount			$ 20,000,000
Redemption date			2023-08
Subsequent Event [Member] \| The Ivy Apartments [Member]
Subsequent Event [Line Items]
Referral fees paid to an affiliate				76,000
Subsequent Event [Member] \| Provision Center 2014-1 [Member]
Subsequent Event [Line Items]
Proceeds from initial redemption				$ 3,700,000
Subsequent Event [Member] \| Hope on Broadway GIL [Member]
Subsequent Event [Line Items]
Maturity date				2023-08
Subsequent Event [Member] \| Hope on Avalon GIL [Member]
Subsequent Event [Line Items]
Maturity date				2023-08
Subsequent Event [Member] \| Hope on Avalon Taxable GIL [Member]
Subsequent Event [Line Items]
Maturity date				2023-08
Subsequent Event [Member] \| Valage Senior Living Carson Valley [Member]
Subsequent Event [Line Items]
Equity commitment			$ 8,200,000
Subsequent Event [Member] \| Greens Property [Member]
Subsequent Event [Line Items]
Amount received as payment in full for outstanding principal and interest on a note receivable			850,000
Accrued interest repayment on notes receivable			$ 1,600,000

[1] The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2023, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond origination costs that are deferred and amortized as a yield adjustment to the related investment asset.

Subsequent Events - Schedule of

Subsequent Events - Schedule of Terms of Partnership's MRB and Taxable MRB Investments (Details)	1 Months Ended
	Jan. 31, 2023 USD ($) Unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Subsequent Event [Line Items]
Principal Funded		$ 103,447,000	$ 60,282,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member]
Subsequent Event [Line Items]
Principal Funded	$ 52,850,000
Subsequent Event [Member] \| Goose Creek, SC [Member] \| Mortgage Revenue Bonds [Member] \| Windsor Shores Apartments [Member]
Subsequent Event [Line Items]
Month Acquired	January
Units \| Unit	176
Maturity Date	Feb. 01, 2030
Interest Rate	6.50%
Principal Funded	$ 21,545,000
Subsequent Event [Member] \| Goose Creek, SC [Member] \| Mortgage Revenue Bonds [Member] \| The Ivy Apartments [Member]
Subsequent Event [Line Items]
Month Acquired	January
Units \| Unit	212
Maturity Date	Feb. 01, 2030
Interest Rate	6.50%
Principal Funded	$ 30,500,000
Subsequent Event [Member] \| Goose Creek, SC [Member] \| Taxable Mortgage Revenue Bonds [Member] \| Windsor Shores Apartments [Member]
Subsequent Event [Line Items]
Month Acquired	January
Units \| Unit	176
Maturity Date	Feb. 01, 2030
Interest Rate	6.50%
Principal Funded	$ 805,000

Subsequent Events - Summary of

Subsequent Events - Summary of Securitized Assets and Initial Terms of TOB Trust Financings (Details) - USD ($)	1 Months Ended
	Feb. 23, 2023	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
TOB Trust Financing			$ 1,058,903,952	$ 820,078,714
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 83,336,000	$ 83,336,000
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member] \| Residency at Empire [Member] \| MRB [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 14,400,000	$ 14,400,000
Stated Maturity	2026-01	2026-01
Tax-Exempt Interest on Senior Securities	Yes	Yes
Remarketing Senior Securities Rate	3.38%	3.38%
Interest Rate Type	Variable	Variable
Facility Fees	1.42%	1.42%
Interest Rate	4.80%	4.80%
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member] \| Windsor Shores Apartments [Member] \| MRB [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 17,236,000	$ 17,236,000
Stated Maturity	2026-01	2026-01
Tax-Exempt Interest on Senior Securities	Yes	Yes
Remarketing Senior Securities Rate	2.11%	2.11%
Interest Rate Type	Variable	Variable
Facility Fees	1.44%	1.44%
Interest Rate	3.55%	3.55%
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member] \| SoLa Impact Opportunity Zone Fund [Member] \| MRB [Member]
Subsequent Event [Line Items]
Interest Rate Type	Variable	Variable
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member] \| SoLa Impact Opportunity Zone Fund [Member] \| Property Loans [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 27,300,000	$ 27,300,000
Stated Maturity	2024-12	2024-12
Tax-Exempt Interest on Senior Securities	No	No
Remarketing Senior Securities Rate	4.57%	4.57%
Facility Fees	1.78%	1.78%
Interest Rate	6.35%	6.35%
Subsequent Event [Member] \| TOB Trust [Member] \| Barclays [Member] \| The Ivy Apartments [Member] \| MRB [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 24,400,000	$ 24,400,000
Stated Maturity	2028-02	2028-02
Tax-Exempt Interest on Senior Securities	Yes	Yes
Remarketing Senior Securities Rate	3.99%	3.99%
Interest Rate Type	Variable	Variable
Facility Fees	1.44%	1.44%
Interest Rate	5.43%	5.43%

Subsequent Events - Summary o_2

Subsequent Events - Summary of Terms of Interest Rate Swap Agreement (Details) - USD ($)		1 Months Ended	12 Months Ended
		Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Derivative, Notional Amount			$ 194,656,088
Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative, Notional Amount			$ 55,990,000	$ 39,607,744
Derivative, Effective Date			Feb. 09, 2022
Derivative, Termination Date			Feb. 01, 2024
Derivative, Fixed Rate Paid			1.40%
Derivative, Variable Debt Financing Hedged	[1]		TOB Trusts
Mizuho Capital Markets 2 [Member]
Subsequent Event [Line Items]
Derivative, Notional Amount			$ 47,850,000	$ 63,500,000
Derivative, Effective Date			Mar. 03, 2022
Derivative, Termination Date			Mar. 01, 2027
Derivative, Fixed Rate Paid			1.65%
Derivative, Variable Debt Financing Hedged	[1]		TOB Trusts
Subsequent Event [Member] \| Mizuho Capital Markets 1 [Member]
Subsequent Event [Line Items]
Derivative, Purchase Date		2023-01
Derivative, Notional Amount		$ 12,065,200
Derivative, Effective Date		Jan. 19, 2023
Derivative, Termination Date		Jan. 01, 2030
Derivative, Fixed Rate Paid		3.354%
Derivative, Variable Rate Index Received		Compounded SOFR
Derivative, Variable Debt Financing Hedged		TOB Trusts
Subsequent Event [Member] \| Mizuho Capital Markets 2 [Member]
Subsequent Event [Line Items]
Derivative, Purchase Date		2023-01
Derivative, Notional Amount		$ 8,027,600
Derivative, Effective Date		Feb. 01, 2023
Derivative, Termination Date		Feb. 01, 2030
Derivative, Fixed Rate Paid		3.289%
Derivative, Variable Rate Index Received		Compounded SOFR
Derivative, Variable Debt Financing Hedged		TOB Trusts

[1] See Notes 15 and 23 for additional details

Subsequent Events - Schedule _2

Subsequent Events - Schedule of MRB Redeemed (Details) - Mortgage Revenue Bonds [Member]	1 Months Ended
	Feb. 23, 2023 USD ($) Unit	Dec. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Subsequent Event [Line Items]
Principal Outstanding at Date of Redemption		$ 37,795,376	$ 61,055,000	$ 43,830,074
Subsequent Event [Member]
Subsequent Event [Line Items]
Principal Outstanding at Date of Redemption	$ 8,493,040
Greens Property [Member] \| Series A [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Month Redeemed	February 2023
Units \| Unit	168
Original Maturity Date	Oct. 01, 2047
Interest Rate	6.50%
Principal Outstanding at Date of Redemption	$ 7,579,000
Greens Property [Member] \| Series B [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Month Redeemed	February 2023
Units \| Unit	168
Original Maturity Date	Oct. 01, 2047
Interest Rate	12%
Principal Outstanding at Date of Redemption	$ 914,040